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1 50 percent of the statutory interest on $11,062.
2 50 percent of the statutory interest on $38,125.
3 50 percent of the statutory interest on $20,434.
4 50 percent of the statutory interest on $12,632.
5 50 percent of the statutory interest on $16,508.
All section references are to the Internal Revenue Code in
effect for the years in issue, and all Rule references are to the
Tax Court Rules of Practice and Procedure.
After concessions,1 the issues for decision are:
(1) Whether petitioner underreported income from his medical
practice for 1985, 1986, 1987, and 1988 in the amounts of
$22,540.91, $79,792.16, $30,463.14, and $62,532.00, respectively;
(2) whether petitioner underreported rental income for 1985,
1986, 1987, and 1988 in the amounts of $1,763, $4,195, $3,960,
and $3,125, respectively;
(3) whether petitioner is entitled to deductions for
depreciation; wage, lease, and car and truck expenses; and
business and mortgage interest in amounts greater than those
respondent allowed in the statutory notice of deficiency;
(4) whether petitioner is entitled to a deduction for
general sales tax on motor vehicles in 1986;
(5) whether petitioner is entitled to deductions for
partnership losses in 1985, 1986, and 1987;
(6) whether petitioner is entitled to an investment tax
credit in 1985;
1 Petitioner concedes that he was not entitled to a
dependency exemption for Guru Prasad Tandon which he took on his
1985 tax return.
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