Allen M. Glick - Page 1

                                 T.C. Memo. 1997-65                                   


                               UNITED STATES TAX COURT                                


                            ALLEN M. GLICK, Petitioner v.                             
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      


               Docket No. 15886-94.                 Filed February 4, 1997.           

               Burton Chandler and James D. Masterman, for petitioner.                
               Barry J. Laterman, for respondent.                                     

                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

               RUWE, Judge:  Respondent determined deficiencies in                    
          petitioner's Federal income tax, additions to tax, and a penalty            
          as follows:                                                                 












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