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Form 6252
Installment
Sale Income Property 1989 1990 1991 1992 1993 1994
Billy Caldwell613 Lee, Lawton $663.65$733.16$809.93 $894.74 $989.00$1,092.00
Mike Harrison509 Lee, Lawton 732.95 825.90930.65 1,048.681,181.001,332.00
Ashworth, Inc.602-616 Lee, Lawton3,119.143,420.223,750.344,112.354,509.004,944.00
2116 Fort Sill Blvd., Lawton-- -- -- -- -- --
2112 Fort Sill Blvd., Lawton-- -- -- -- -- --
1108 Lincoln Blvd., Lawton
515 Lee Blvd., Lawton-- -- -- -- -- --
1207 S. 6th, Lawton-- -- -- -- -- --
Marian BookerCommercial Property, Fletcher12,885.4651,392.98-- -- -- --
KLAW 626 D Ave., Lawton1,386.541,398.181,825.681,869.311,885.002,461.00
Billy Reed608 D Ave., Lawton1,324.901,478.211,649.281,840.122,053.002,291.00
Finley Commercial
Property, Inc.802 S.E. 3d, Lawton
Finley Commercial
Property, Inc.802 S.E. 3d, Lawton-- -- -- -- -- --
Stanley Booker45th & E. Gore, Lawton122.99 147.61 163.07 180.14 199.00 220.00
Stanley BookerSheridan & Hoover, Lawton-- -- -- -- -- --
Stanley Booker6302-04 Cache Rd., Lawton310.79 343.33 379.28 419.00 463.00 511.00
38th & Lee (lots), Lawton-- -- -- -- -- --
Total 20,546.4259,739.599,508.2310,364.3411,279.0012,851.00
Petitioner reported the aggregate installment sale income
for each of the years in issue on Form 4797, Sales of
Business Property, as "section 1231 gain from installment
sales from Form 6252". Each of the above totals was also
reported on Schedule D, Capital Gains and Losses, as long-
term capital gain.
During the audit of petitioner's returns, Mr. McKelvey
told respondent's agent that petitioner held the real
properties that it owned for rental, but that petitioner
would sell one of the properties when a good deal came
along. When any of its properties was for sale, petitioner
did not advertise either in newspapers or by a sign in
front of the property. Petitioner did not regularly or
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