P.D.B. Sports, Ltd., Bowlen Sports, Inc., Tax Matters Partner - Page 40

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               Accordingly, we find that the mandatory basis adjustment of            
          section 732(d) applies within the context of subchapter K and               
          that Bowlen I properly computed the basis of the player contracts           
          in accordance with the partnership provisions and is entitled to            
          the amortization deduction in controversy.                                  
               To reflect the foregoing and due to concessions by the                 
          parties,                                                                    
                                             Decision will be entered                 
                                        under Rule 155.                               

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