Fred L. Baker and Lisa A. Powers - Page 1

                                 T.C. Memo. 1997-442                                  

                               UNITED STATES TAX COURT                                

                  FRED L. BAKER AND LISA A. POWERS, Petitioners v.                    
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket No. 25050-95.              Filed September 29, 1997.            

               Fred L. Baker, for petitioners.                                        
               Carmino J. Santaniello, for respondent.                                

                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

               RUWE, Judge:  Respondent determined a deficiency in                    
          petitioners' 1990 Federal income tax in the amount of $43,446.              
               After concessions, the only issue for decision is whether a            
          $65,316 loss claimed by petitioner Fred L. Baker (hereinafter               
          petitioner) should be treated as an ordinary or capital loss.               

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