Craig V. Adams - Page 2

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          Rule references are to the Tax Court Rules of Practice and                  
          Procedure.                                                                  
               After a concession by petitioner, the issues remaining for             
          decision are:  (1) Whether petitioner failed to report income;              
          (2) whether petitioner is entitled to depreciation deductions;              
          (3) whether petitioner is entitled to rental expense deductions;            
          (4) whether petitioner is entitled to claim his mother and his              
          father as his dependents; (5) whether petitioner is entitled to             
          head of household filing status; and (6) whether petitioner is              
          liable for the accuracy-related penalty under section 6662.                 
                                  FINDINGS OF FACT                                    
               Some of the facts have been stipulated, and the stipulated             
          facts are incorporated in our findings by this reference.  At the           
          time the petition was filed, petitioner resided in Washington,              
          D.C.  During the first 6 months of 1991, petitioner was chief               
          resident at Washington Hospital Center.  For the last 6 months of           
          1991, petitioner was in a private medical practice.                         
          World Medical/Dental--Equipment Leasing and Depreciation                    
               Petitioner purchased various medical and dental equipment,             
          office furniture, and a used neon sign during 1987, 1988, and               
          1989.  During 1989, 1990, and at least a portion of 1991,                   
          petitioner's mother operated World Medical/Dental, a walk-in                
          dental clinic on 16th Street, N.W., in Washington, D.C.  Pursuant           
          to a lease agreement dated July 1, 1987, petitioner's mother was            
          to pay $2,500 per month for the use of the medical and dental               




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