David K. Straight - Page 1

                                 T.C. Memo. 1997-569                                  


                               UNITED STATES TAX COURT                                


                          DAVID K. STRAIGHT, Petitioner v.                            
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      


               Docket No.  23658-94.           Filed December 29, 1997.               

               David D. Aughtry and Donald P. Lancaster, for petitioner.              
               William L. Blagg, for respondent.                                      


                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

               COLVIN, Judge:  Respondent determined deficiencies in                  
          petitioner's Federal income tax and accuracy-related penalties as           
          follows:                                                                    










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