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SCHUMACHER v. U.S.

No. 89-2281.

931 F.2d 650 (1991)

Albert E. SCHUMACHER and Eunice A. Schumacher, Plaintiffs-Appellants, v. The UNITED STATES of America, Defendant-Appellee.

United States Court of Appeals, Tenth Circuit.

April 25, 1991.

Attorney(s) appearing for the Case

Gerald E. Bischoff of Dubois, Caffrey, Cooksey, & Bishoff, P.A., Albuquerque, N.M., for plaintiffs-appellants.

Joel A. Rabinovitz, Tax Div., Dept. of Justice, Washington, D.C. (William L. Lutz, U.S. Atty., Shirley D. Peterson, Asst. Atty. Gen., Gary R. Allen and Ann B. Durney, Tax Div., Dept. of Justice, Washington, D.C., with him on the brief), for defendant-appellee.

Before HOLLOWAY, Chief Judge, ALDISERT and EBEL, Circuit Judges.

ALDISERT, Circuit Judge.

In this case of statutory construction, the issue for decision is whether the taxpayers, lessors of personal property, have shown that the rentals of their property met the requirements of Internal Revenue Code § 46(e)(3)(B), that the rentals or leases be for less than 50% of the useful life of that property, thereby entitling them to an investment tax credit. We hold that the taxpayers did not meet their burden of showing entitlement...

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