Associated Obstetricians and Gynecologists, P.C. v. Commissioner of Internal Revenue

The taxpayer, Associated Obstetricians and Gynecologists, P.C. (AOG), appeals from a judgment of the United States Tax Court affirming the Commissioner’s determination of deficiencies in the taxpayer’s federal corporate income taxes for 1976 and 1977. The sole issue in this case is whether certain works of art displayed by the taxpayer in its medical offices are depreciable property entitling the taxpayer to depreciation deductions and investment tax credits for the tax years in issue. For the reasons set forth in the Tax Court’s opinion, Associated Obstetricians and Gynecologists, P.C. v.…