Oren L. Benton - Page 20

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          the debtor’s opportunity for rehabilitation, without providing              
          any particular benefit to the estate or the estate’s creditors.             
               Our analysis of this matter is focused on the facts before             
          us.  On the basis of those facts and in accord with established             
          bankruptcy case precedent, we hold that termination of                      
          petitioner’s bankruptcy estate occurred at the time of the                  
          confirmation of the plan of reorganization.  In reaching this               
          holding, we do not attempt to establish a “bright-line rule”                
          under which all chapter 11 bankruptcy reorganizations would                 
          “terminate”, within the meaning of section 1398(i), at the time             
          of the plan’s confirmation.  The circumstances of each case                 
          should dictate whether a “termination” has occurred.                        
               In prior Memorandum Opinions of this Court, the view was               
          expressed that the phrase “termination of an estate”, as used in            
          section 1398(i), should be the same as or compatible with the               
          phrase closing of the estate as used in section 346(i)(2) of the            
          Bankruptcy Code, 11 U.S.C. section 346(i)(2) (2000).  See McGuirl           
          v. Commissioner, T.C. Memo. 1999-21; Beery v. Commissioner, T.C.            
          Memo. 1996-464; cf. Firsdon v. United States, 95 F.3d 444, 446              
          (6th Cir. 1996); Banks v. Commissioner, T.C. Memo. 2001-48, affd.           
          in part, revd. in part and remanded 345 F.3d 373 (6th Cir. 2003);           
          Gulley v. Commissioner, T.C. Memo. 2000-190; Kahle v.                       
          Commissioner, T.C. Memo. 1997-91.  However, all of those cases              
          either began as chapter 7 liquidations or were converted from               

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