Oren L. Benton - Page 3

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               This matter is before the Court on respondent’s motion for             
          partial summary judgment.  See Rule 121.1  The issues presented             
          for our consideration are:  (1) Whether petitioner succeeded to             
          the tax attributes of his chapter 11 bankruptcy estate at the               
          time of confirmation of the plan of reorganization or,                      
          alternatively, upon entry of a final order closing the bankruptcy           
          proceeding, see sec. 1398(i); (2) whether petitioner may carry              
          net operating losses (NOLs) to his 1995, 1996, and 1997 tax                 
          years; and (3) whether certain payments petitioner received were            
          compensation for his services.                                              
               Petitioner resided in Oto, Iowa, at the time his petition              
          was filed in this proceeding.  On February 23, 1995, petitioner             
          filed a voluntary petition with the U.S. Bankruptcy Court for the           
          District of Colorado under chapter 11 of the Bankruptcy Code.               
          Concurrently, four related petitions were filed for business                
          entities controlled by petitioner.  An additional entity                    
          controlled by petitioner filed a petition under chapter 11 during           
          1996.  All six bankruptcy cases were administered as a related              
          group.  A separate bankruptcy estate was established for each               
          entity, including the Oren L. Benton Bankruptcy Estate (Benton              

               1 Unless otherwise indicated, all Rule references are to the           
          Tax Court Rules of Practice and Procedure, and all section                  
          references are to the Internal Revenue Code in effect for the               
          taxable years at issue.                                                     

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