David Taylor Enters. v. Comm'r

DAVID TAYLOR ENTERPRISES, INC. & SUBSIDIARIES, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent

David Taylor Enters. v. Comm'r

No. 7698-03

United States Tax Court

T.C. Memo 2005-127; 2005 Tax Ct. Memo LEXIS 127; 89 T.C.M. (CCH) 1369;

May 31, 2005, Filed

Lawrence Sherlock and Juan F. Vasquez, Jr., for petitioner.

Derek B. Matta, for respondent.

Kroupa, Diane L.

Diane L. Kroupa

MEMORANDUM FINDINGS OF FACT AND OPINION

KROUPA, Judge: Respondent determined deficiencies of $ 431,114 1 for 1999 2 and $ 113,390 for 2000 in petitioner's Federal income taxes. The issue to be decided is whether losses…