F. Browne Gregg, Sr., and Juanita O. Gregg - Page 1















                                  T.C. Memo. 1999-10                                   


                               UNITED STATES TAX COURT                                 


             F. BROWNE GREGG, SR., AND JUANITA O. GREGG, Petitioners v.                
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                       


               Docket No. 13188-96.                 Filed January 22, 1999.            

               Bernard A. Barton, Jr., for petitioners.                                
               Charles Baer, for respondent.                                           

                       MEMORANDUM FINDINGS OF FACT AND OPINION                         

               THORNTON, Judge:  Respondent determined a deficiency in                 
          petitioners' Federal income tax for tax year 1990 in the amount              
          of $5,582,555.                                                               













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