- 4 - her various calves to manage and sell. At age 16, she left her father’s Texas ranch and used the proceeds from the sale of her calves for her college and medical school education. In late 1976, after serving in the U.S. Army, petitioners settled in Nacogdoches, Texas. Subsequent to arriving in Nacogdoches, petitioners purchased three ranches and one farm. Melrose Ranch In 1978, petitioners purchased 80 acres of land situated 6 miles east of Nacogdoches, Texas (Melrose ranch), for $105,000. The Melrose ranch sits adjacent to petitioners’ current residence near Nacogdoches, Texas. During the years in issue, petitioners rented out their current residence. Because of the Melrose ranch’s small size, petitioners could not effectively conduct a ranching or farming operation on it. During the taxable years in issue, petitioners did not maintain any cattle on the Melrose ranch. Chireno Ranch In 1979, petitioners purchased 510 acres of land in Chireno, Texas (Chireno ranch), which is 25 miles east of Nacogdoches, for $325,000. When petitioners purchased the Chireno ranch, the ranch contained minimal improvements. Petitioners constructed additional cattle pens, a pole barn, and a small metal shed. In 1992, petitioners built a one-vehicle bridge over a canal on the Chireno ranch. Initially, petitioners, together with Mr. Jorgenson’sPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011