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Claimed
Intangible 1985 1986 1987 1988 1989 1990
Information systems $5,981,964 $5,981,964 $5,981,952 $5,931,920 $3,336,160 $40
Favorable leaseholds 513,120 513,120 380,625 368,580 368,446 367,164
Seller/servicer list 1,123,572 1,123,572 1,123,572 711,072 711,072 711,072
Favorable financing 50,219,116 48,702,457 47,017,000 45,835,556 40,680,420 38,028,084
Customer relations 60,000,000 60,000,000 60,000,000 60,000,000 60,000,000 60,000,000
Total claim 1117,837,720 116,321,113 114,503,149 112,847,128 105,096,098 99,106,360
1The parties stipulate this table; the actual total of the claimed amortization deductions
for 1985 is $117,837,772.
Discussion
Summary judgment is intended to expedite litigation and
avoid unnecessary and expensive trials. FPL Group, Inc. v.
Commissioner, 116 T.C. 73, 74 (2001). Either party may move for
summary judgment upon all or any part of the legal issues in
controversy. Rule 121(a); FPL Group, Inc. v. Commissioner, supra
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 that
party is entitled to judgment as a matter of law. Rauenhorst v.
Commissioner, 119 T.C. 157, 162 (2002).
The parties in the instant cases filed cross-motions for
partial summary judgment on the question of whether petitioner’s
claimed intangibles are amortizable using their fair market value
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