Sheryl D. Bumpus - Page 1

                                 T.C. Memo. 1999-299                                  

                               UNITED STATES TAX COURT                                

                           SHERYL D. BUMPUS, Petitioner v.                            
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket No. 8507-98.                 Filed September 7, 1999.           

               Yale F. Goldberg and Mitzi L. Torri, for petitioner.                   
               David A. Winsten, for respondent.                                      

                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

               CARLUZZO, Special Trial Judge:  Respondent determined a                
          deficiency of $8,041 in petitioner's 1995 Federal income tax.               
               The issue for decision is whether petitioner, who was an               
          officer and shareholder of a closely held corporation, is                   
          entitled to a deduction for a lease cancellation fee (the fee)              
          paid to release the corporation from liability under a lease.               

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