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GEORGE v. C.I.R.

No. 85-4786.

803 F.2d 144 (1986)

James M. GEORGE and Margaret C. George, Hollis O. Graham and Ida G. Graham, George A. Wolcott and Dorothy Wolcott, Tuncay Ertan and Nona G. Ertan, Estate of Coman S. Norton, Deceased, Caroline Norton, Testamentary Executrix, Roland M. Toups and Kathryn B. Toups, David R. Carpenter and Erica J. Carpenter, Charles A. Prince and Ruth O. Prince, Harry R. Layne and Janet J. Layne, Stephen G. Abshire and Mary B. Abshire, Janet F. Baum, Formerly Janet F. Norton, Kenneth G. Fink, Jr. and Carol Fink, Donald L. McCollister and Sandra M. McCollister, Robert A. Rayford and Iris B. Rayford, Frem F. Boustany, Sr. and Beatrice J. Boustany, Frem F. Boustany, Jr. and Angell F. Boustany, Sidney Frederick and Irene S. Frederick, Roland M. Toups and Kathryn B. Toups, Petitioners-Appellees-Cross-Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellant-Cross-Appellee.

United States Court of Appeals, Fifth Circuit.

October 24, 1986.

Attorney(s) appearing for the Case

Teresa E. McLaughlin, Glenn L. Archer, Jr., Asst. Atty. Gen., U.S. Dept. of Justice, Roger M. Olsen, Michael L. Paup, Chief, Appellate Section, Ann Belanger Durney, Washington, D.C., for respondent-appellant-cross-appellee.

F. Kelleher Riess, J. Gregory Wyrick, Metairie, La., for petitioners-appellees-cross-appellants.

Before THORNBERRY, JOHNSON, and WILLIAMS, Circuit Judges.

THORNBERRY, Circuit Judge:

Taxpayers were limited partners in the Biloxi Hotel Properties Partnership ("BHPP") and claimed their distributive share of losses from the development of the Biloxi Hilton Hotel. That project included both a hotel and a golf course. The Commissioner disallowed those losses because two corporations, Argo Hotels, Inc. ("Argo") and Coastal Golf, Inc. ("CG"), owned the project during the pertinent period. The Tax Court disagreed with the Commissioner...

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