Albright v. Commissioner

ROBERT B. ALBRIGHT, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Albright v. Commissioner

Docket No. 9591-82.

United States Tax Court

T.C. Memo 1985-485; 1985 Tax Ct. Memo LEXIS 148; 50 T.C.M. (CCH) 1068; T.C.M. (RIA) 85485;

September 17, 1985.

Bruce R. Lowry and James H. Stethem, for the petitioner.

Mary H. Weber, for the respondent.

GERBER

MEMORANDUM OPINION

GERBER, Judge:* Respondent determined a deficiency in petitioner's Federal income tax of $16,588.88 for 1977 and $77,096.92 for 1978. The issues for decision are: (1) Whether capital was a material income-producing factor in…