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Clayton v. Commissioner, T.C. Memo. 1956-21, affd. 245 F.2d 138
(6th Cir. 1957).
“When, as in this case, the Commissioner has determined an
allocation of basis, a taxpayer bringing a deficiency proceeding
bears the burden of proving by a preponderance of the evidence
that the Commissioner’s determination is erroneous.” Sleiman v.
Commissioner, supra at 1359; see also Byram v. Commissioner, 555
F.2d 1234, 1236 (5th Cir. 1977), affg. T.C. Memo. 1975-135.
Petitioner argues that parcel 1 is fronted by U.S. Highway 192,
the main road through Osceola County to Walt Disney World,
whereas parcels 2 and 3 are on a dirt road, and that parcel 1 was
zoned commercial, whereas parcels 2 and 3 were zoned residential.
He also testified that parcels 2 and 3, at the time of their
purchase, were “in a real undesirable neighborhood. As you get
down here, a lot of drug users and stuff. There’s sort of a
shack here.” Petitioner claims, on the sole basis of his
testimony, that one-half of the original $47,000 purchase price,
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