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KING v. COMMISSIONER

Docket No. 7870-81.

50 T.C.M. 387 (1985)

T.C. Memo. 1985-340

Jack B. King and Paula H. King v. Commissioner.

United States Tax Court.

Filed July 15, 1985.

Attorney(s) appearing for the Case

John Patrick Kelly, 28061 Front St., Temecula, Calif., for the petitioners. John O. Kent, for the respondent.

Memorandum Findings of Fact and Opinion

GERBER, Judge:

Respondent determined a deficiency of $54,417 in petitioners' 1977 Federal income tax. The issues presented for consideration are: (1) Whether petitioners are entitled to deduct certain claimed "advanced minimum royalties" under section 1.612-3(b)(3), Income Tax Regs., and (2) whether damages should be awarded, sua sponte, under section 6673.

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