T.C. Memo. 1997-374                                  
                               UNITED STATES TAX COURT                                
                           STANLEY L. WADE, Petitioner v.                             
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      
                      STANLEY L. AND JANET WADE, Petitioners v.                       
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      
               Docket Nos.  4623-94, 4703-94.      Filed August 18, 1997.             
               J. Jay Bullock and Karen Bullock Kreeck, for petitioners.              
               Joel A. Lopata, for respondent.                                        
                       MEMORANDUM FINDINGS OF FACT AND OPINION                        
               SWIFT, Judge:  Respondent determined deficiencies in and               
          additions to petitioners’ joint Federal income taxes and a                  
          deficiency in and additions to petitioner Stanley Wade’s                    
          (petitioner’s) individual Federal income tax, as follows:                   
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