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that the transactions in question were taxable, alternatively,
for 1989 or 1990. We decided that 1989 was the year in which the
income was to be included, and no computation under Rule 155 was
required for 1990 because of our understanding that petitioners
would have no deficiency or overpayment for the 1990 year.
Petitioners, however, proffered a computation for entry of
decision for 1990 reflecting a $20,831 overpayment, which they
claim is attributable to additional depreciation that they could
have claimed on the acquired properties on the premise that they
were purchased, rather than exchanged. Petitioners point out
that they were permitted to amend their petition for the 1990
year to claim $75,012 of additional depreciation. Respondent, in
turn, answered petitioners' allegation in the amendment to the
1990 petition by admitting that petitioners would be entitled to
additional depreciation if the Court determines that "the
transaction is taxable in 1990". Respondent, however, denied,
for lack of sufficient information, that petitioners were
entitled to the amount they had alleged. Petitioners also
contend that we held that the period for assessment would be open
for the 1990 year due to our finding of fraud for 1990. Under
these circumstances, petitioners seek an overpayment for 1990,
rather than a "no deficiency, no overpayment" decision.
We find that petitioners are not entitled to an overpayment
for their 1990 taxable year. Their amended petition for 1990
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