William F. Hill and Lola E. Hill v. The United States

OPINION

BENNETT, Senior Circuit Judge.

The Government appeals the United States Claims Court’s judgment granting summary judgment for the taxpayers. 21 Cl.Ct. 713 (1990). The court held that for tax years 1981 and 1982, the taxpayers were entitled to include unrecovered tangible improvements in the computation of the adjusted basis of their oil and gas properties under Internal Revenue Code § 57(a)(8) for the purpose of calculating the amount of depletion which is a tax preference item subject to an alternate minimum tax. We affirm on the basis of the court’s opinion which we adopt.

AFFIRMED.

UNIT…