Robert K. and Dawn E. Lowry - Page 1

                                 T.C. Memo. 2004-10                                   

                               UNITED STATES TAX COURT                                

                    ROBERT K. AND DAWN E. LOWRY, Petitioners v.                       
                    COMMISSIONER OF INTERNAL REVENUE, Respondent*                     

               Docket No.  11579-00.           Filed January 12, 2004.                

                    On a Motion for Reconsideration of Findings or                    
               Opinion and a Motion to Vacate or Revise a Decision,                   
               under, respectively, Rules 161 and 162, Tax Court Rules                
               of Practice and Procedure, Ps challenge the Court’s                    
               factual and legal conclusions in Lowry v. Commissioner,                
               T.C. Memo. 2003-225.  There, this Court decided that a                 
               conceded gain under sec. 1231, I.R.C., was realized in                 
               1994, and not in 1993, as contended by Ps.                             
                    Held:  Ps have failed to point to any substantial                 
               errors of fact or law or to present any newly                          
               discovered evidence that could not have been introduced                
               previously even if Ps had exercised due diligence.                     
               Estate of Quick v. Commissioner, 110 T.C. 440 (1998),                  
               applied.  Ps’ Motions will be denied.                                  

               *This opinion supplements our previously filed Memorandum              
          Opinion in Lowry v. Commissioner, T.C. Memo. 2003-225.                      

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