Herbert C. Elliot - Page 1

                                 T.C. Memo. 1997-294                                  


                               UNITED STATES TAX COURT                                


                          HERBERT C. ELLIOTT, Petitioner v.                           
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      


               Docket No.  23599-95.                   Filed June 26, 1997.           


               John H. Trader, for petitioner.                                        
               Dennis R. Onnen, for respondent.                                       


                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

               LARO, Judge:  Herbert C. Elliott petitioned the Court to               
          redetermine respondent's determination with respect to his 1991             











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