William G. and Vivian Loomis - Page 1

                                 T.C. Memo. 1997-381                                  

                               UNITED STATES TAX COURT                                

                    WILLIAM G. AND VIVIAN LOOMIS, Petitioners v.                      
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket No. 8748-95.               Filed August 20, 1997.               

               Gary C. Randall and James J. Workland, for petitioners.                
               John M. Altman and David A. Winsten, for respondent.                   

                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

               FAY, Judge:  Respondent determined a deficiency in peti-               
          tioners' Federal income tax for the taxable year 1991 in the                
          amount of $35,528.  After concessions, the sole issue for                   
          decision is whether petitioners must include the fair market                
          value of grain contracts in their alternative minimum taxable               
          income (AMTI) for 1991.                                                     

Page:   1  2  3  4  5  6  7  8  Next

Last modified: May 25, 2011