Bill L. and Patricia M. Spencer - Page 1

                                                                                     









                                   110 T.C. No. 7                                     


                               UNITED STATES TAX COURT                                


                   BILL L. AND PATRICIA M. SPENCER, Petitioners v.                    
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      
                  JOSEPH T. AND SHERYL S. SCHROEDER, Petitioners v.                   
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      


               Docket Nos. 16338-95, 22465-95.    Filed February 9, 1998.             


                    Held, inter alia, upon redetermination of the                     
               original amortizable bases of property owned by P's S                  
               corporations, amortization must be calculated using the                
               bases of the property as reduced by previously allowed                 
               amortization deductions.                                               




               Oliver C. Murray, Jr., and Stephen S. Ritchey, for                     
          petitioners.                                                                
               Bonnie L. Cameron, for respondent.                                     





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