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incurred "in connection with" the Property, and are, therefore,
investment expenses related to portfolio income.
We note that petitioner now contends that the attorney's
fees were incurred, not in the determination of the rollback
taxes, as stipulated, but "as part of the contract negotiations
concerning the disposition of the property". In accordance with
Woodward v. Commissioner, 397 U.S. 572 (1970), petitioner argues
that the attorney's fees must be treated as capital expenditures,
which would reduce the gain on the sale of the Property.
However, the TMP's discussion of the attorney's fees in a letter
to the partners dated January 7, 1992, indicates that the fees
had nothing to do with negotiations for the sale of the Property.
In any event, the Court will not permit petitioner to qualify or
change the stipulation. Rule 91(e).
To reflect the foregoing and issues previously resolved,
Decision will be entered
under Rule 155.
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