- 35 -
49 Fed. Reg. 59394 (Dec. 28, 1984). We have jurisdiction to
determine the portion (if any) of a deficiency which is a
substantial underpayment attributable to a tax-motivated
transaction. Sec. 6621(d)(4); Law v. Commissioner, 84 T.C. 985,
988 (1985).
We have found both that there was a valuation overstatement
within the meaning of section 6659(c) and that the EMS-related
activity was not engaged in for profit. Accordingly, we hold
that petitioner is liable for increased interest under section
6621(d). See Krause v. Commissioner, supra at 180; Osowski v.
Commissioner, T.C. Memo. 2000-367; Barlow v. Commissioner, T.C.
Memo. 2000-339, affd. 301 F.3d 714 (6th Cir. 2002).
Decision will be entered
under Rule 155.
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