T.C. Memo. 2001-115                                  
                               UNITED STATES TAX COURT                                
          KEVIN D. CASTRO AND MARGARITA C. CASTRO, ET AL.,1 Petitioners v.            
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      
               Docket Nos. 10785-99, 10794-99,          Filed May 14, 2001.           
                           10795-99.                                                  
               Edward G. Marshall, for petitioners.                                   
               Fred E. Green, Jr., for respondent.                                    
                       MEMORANDUM FINDINGS OF FACT AND OPINION                        
               MARVEL, Judge:  In separate notices of deficiency,                     
          respondent determined the following income tax deficiencies and             
               1Cases of the following petitioners are consolidated                   
          herewith:  Castro Family Trust, Kevin Castro, Margarita Castro,             
          Steven Castro, Howie Rossman, Trustees, docket No. 10794-99; and            
          Castro & Co. Jewelers, Kevin Castro, Margarita Castro, Steven               
          Castro, Howie Rossman, Trustees, docket No. 10795-99.                       
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