Bank One Corporation - Page 170

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          have taken the additional step of recasting the court-appointed             
          expert’s testimony to support its position since the job of                 
          evaluating the testimony of expert witnesses and witnesses in               
          general is peculiarly that of the trier of fact”).  Sometimes, an           
          expert will help us decide a case.  E.g., Booth v. Commissioner,            
          108 T.C. at 573; Trans City Life Ins. Co. v. Commissioner, 106              
          T.C. 274, 302 (1996).  Other times, he or she will not.  E.g.,              
          Estate of Scanlan v. Commissioner, T.C. Memo. 1996-331, affd.               
          without published opinion 116 F.3d 1476 (5th Cir. 1997);                    
          Mandelbaum v. Commissioner, T.C. Memo. 1995-255, affd. without              
          published opinion 91 F.3d 124 (3d Cir. 1996).  Aided by our                 
          common sense, we weigh the helpfulness and persuasiveness of an             
          expert’s testimony in light of his or her qualifications and with           
          due regard to all other credible evidence in the record.                    
          Neonatology Associates, P.A. v. Commissioner, supra at 85.  We              
          may embrace or reject an expert’s opinion in toto, or we may pick           
          and choose the portions of the opinion to adopt.  Helvering v.              
          Natl. Grocery Co., 304 U.S. at 294-295; IT&S of Iowa, Inc. v.               
          Commissioner, 97 T.C. 496, 508 (1991).  We are not bound by an              
          expert’s opinion and will reject an expert’s opinion to the                 
          extent that it is contrary to the judgment we form on the basis             
          of our understanding of the record as a whole.  IT&S of Iowa,               
          Inc. v. Commissioner, supra at 508; see also Orth v.                        
          Commissioner, 813 F.2d at 842.                                              






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