T.C. Memo. 1998-79                                   
                               UNITED STATES TAX COURT                                
                    TRINITY MEADOWS RACEWAY, INC., JACK M. LENAVITT,                  
               A PERSON OTHER THAN THE TAX MATTERS PERSON, Petitioner                 
                    v. COMMISSIONER OF INTERNAL REVENUE, Respondent                   
               Docket No. 16315-96.             Filed February 25, 1998.              
               Jack M. Lenavitt, pro se.                                              
               Lynn M. Brimer, Trevor T. Wetherington, and Oksana O. Xenos,           
          for respondent.                                                             
                       MEMORANDUM FINDINGS OF FACT AND OPINION                        
               LARO, Judge:  Jack M. Lenavitt petitioned the Court to                 
          readjust respondent's adjustments to subchapter S corporation               
          items reported by Trinity Meadows Raceway, Inc. (Trinity), for              
          1991.  On April 14, 1996, respondent issued a notice of final               
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