BAUMGART v. COMMISSIONER

Docket No. 14440-80.

47 T.C.M. 592 (1983)

T.C. Memo. 1983-738

Stephen W. Baumgart and Margaret G. Baumgart v. Commissioner.

United States Tax Court.

Filed December 12, 1983.


Attorney(s) appearing for the Case

Douglas E. McKinley, 320 King St., Alexandria, Va., for the petitioners. Warren P. Simonsen, for the respondent.


Memorandum Findings of Fact and Opinion

WHITAKER, Judge:

Petitioners Stephen W. Baumgart and Margaret G. Baumgart are husband and wife and resided in Reston, Virginia, when the petition in this case was filed. Petitioner Stephen W. Baumgart is hereafter referred to as "petitioner."

Respondent determined deficiencies in petitioners' Federal income tax of $114,712 and $18,380 for the years 1975 and 1976, respectively. After concessions by both parties...

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