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LDL RESEARCH & DEVELOPMENT II, LTD. v. C.I.R.

No. 95-9014.

124 F.3d 1338 (1997)

LDL RESEARCH & DEVELOPMENT II, LTD., a limited partnership, Ensign Management Group, Inc and Tax Matters Partner, Petitioners-Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Tenth Circuit.

September 8, 1997.

Attorney(s) appearing for the Case

David C. Wright of Kruse, Landa & Maycock, L.L.C., Salt Lake City, UT, for the Petitioner-Appellant LDL Research & Development.

Annette M. Wietecha (Ann B. Durney with her on the brief), Department of Justice, Washington, DC, for the Respondent-Appellee.

Before SEYMOUR, LOGAN and LUCERO, Circuit Judges.

LUCERO, Circuit Judge.

Section 174(a) of the Internal Revenue Code allows "[a] taxpayer [to] treat research or experimental expenditures which are paid or incurred by him during the taxable year in connection with his trade or business as expenses which are not chargeable to capital account. The expenditures so treated shall be allowed as a deduction." In this case we are required to determine when a partnership's expenditures...

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