VAN GRAAFEILAND, Circuit Judge:
Andrew Crispo Gallery, Inc. ("Crispo Gallery" or "the Gallery") appeals from a decision of the United States Tax Court (Cohen, J.) which determined a deficiency of $2,001,792.14 in income tax for the 1987 taxable year. For the reasons that follow, we affirm in part and vacate and remand in part.
Crispo Gallery began operations in New York City in 1973. It bought and sold artwork for its own account, sold artwork on consignment...
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