CALIFORNIA THOROUGHBRED BREEDERS ASSOCIATION v. COMMISSIONER

Docket No. 9174-85, 12115-85.

57 T.C.M. 962 (1989)

T.C. Memo. 1989-342

California Thoroughbred Breeders Association v. Commissioner.

United States Tax Court.

Filed July 18, 1989.


Attorney(s) appearing for the Case

Adam Y. Bennion, 611 W. Sixth St., Los Angeles, Calif., and Patrick M. McAdam, 624 S. Grand Ave., Los Angeles, Calif., for the petitioner. John O. Kent, for the respondent.


Memorandum Findings of Fact and Opinion

CLAPP, Judge:

Respondent determined deficiencies in petitioner's Federal income taxes for the taxable years 1978 through 1983 as follows:

Year                              Deficiency

1978 ..........................   $  166,764
1979 ..........................       82,086
1980 ..........................      104,054
1981 ..........................      181,446
1982 ...................

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