David E. Gantner and Sandra L. Gantner v. Commissioner of Internal Revenue, David E. Gantner and Sandra L. Gantner v. Commissioner of Internal Revenue

WOLLMAN, Circuit Judge.

This case is before us on cross appeals by David E. and Sandra L. Gantner and the Commissioner of Internal Revenue (Commissioner). The Commissioner appeals the Tax Court’s decision allowing the Gantners to deduct the loss from the sale of stock options on their joint federal income tax return. The Gantners appeal the Tax Court’s rulings that: (1) denied deductions and tax credits for computer equipment; (2) assessed interest for underpayment of taxes; and (3) denied litigation costs. 1 We affirm.

I. APPEAL BY COMMISSIONER

During 1980, David E. Gantner 2 purchased and sold…