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at 74. A decision will be rendered on a motion for partial
summary judgment if the pleadings, answers to interrogatories,
depositions, admissions, and other acceptable materials, together
with the affidavits, if any, show that there is no genuine issue
as to any material fact and that a decision may be rendered as a
matter of law. Rule 121(b); Elec. Arts, Inc. v. Commissioner,
118 T.C. 226, 238 (2002). The moving party has the burden of
proving that no genuine issue of material fact exists, and the
moving party is entitled to judgment as a matter of law.
Rauenhorst v. Commissioner, 119 T.C. 157, 162 (2002).
Petitioner claims that under section 177(a) it is entitled
to deductions in 1985, 1986, and 1987 for part of the trademark
and trade name expenditures that it incurred during 1983 and 1984
when it was exempt from income tax. Section 177(a)4 in effect
for the taxable years at issue provided:
SEC. 177(a). Election to Amortize.--Any trademark
or trade name expenditure paid or incurred during a
taxable year beginning after December 31, 1955, may, at
the election of the taxpayer (made in accordance with
regulations prescribed by the Secretary), be treated as
a deferred expense. In computing taxable income, all
expenditures paid or incurred during the taxable year
which are so treated shall be allowed as a deduction
ratably over such period of not less than 60 months
(beginning with the first month in such taxable year)
as may be selected by the taxpayer in making such
election. The expenditures so treated are expenditures
properly chargeable to capital account for purposes of
4Sec. 177(a) was repealed by the Tax Reform Act of 1986,
Pub. L. 99-514, sec. 241(a), 100 Stat. 2181, effective for
expenditures paid or incurred after Dec. 31, 1986.
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