T.C. Memo. 2000-205                                  
                               UNITED STATES TAX COURT                                
                 PHILIP E. PARSONS AND KAREN PARSONS, Petitioners v.                  
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      
               Docket No. 9303-97.                      Filed July 5, 2000.           
               J. Timothy Bender and J. Scott Broome, for petitioners.                
               Christopher A. Fisher, for respondent.                                 
                       MEMORANDUM FINDINGS OF FACT AND OPINION                        
               GALE, Judge:  Respondent determined deficiencies in                    
          petitioners’ Federal income taxes and additions to tax as                   
          follows:                                                                    
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