T.C. Memo. 1997-327
UNITED STATES TAX COURT
FREDERIC S. CLAYTON and MARLENE B. CLAYTON, Petitioners v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 4665-95. Filed July 21, 1997.
Robert S. Grodberg, for petitioners.
Christopher W. Schoen, for respondent.
MEMORANDUM OPINION
HAMBLEN, Judge: Respondent determined a deficiency in
petitioners' Federal income tax for taxable year 1985 in the
amount of $73,068. By amendment to answer, respondent asserted
an increased deficiency in the amount of $81,211. Unless
otherwise indicated, all section references are to the Internal
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