Joseph M. and Marjorie Sita - Page 14




                                       - 14 -                                         
          have claimed $24,750, instead of $14,000, which was the remainder           
          of the cost of the seven pay phones.  However, as the Court found           
          above, petitioners did not receive the benefits and burdens of              
          ownership with respect to the seven pay phones.  Therefore,                 
          petitioners are not entitled to a depreciation deduction for any            
          amount under section 167 with respect to the seven pay phones in            
          2002.                                                                       
               In reaching our holdings herein, we have considered all                
          arguments made, and, to the extent not mentioned above, we find             
          them to be moot, irrelevant, or without merit.                              
               To reflect the foregoing,                                              

                                                  Decision will be entered            
                                             under Rule 155.                          
























Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14

Last modified: March 27, 2008