MEREDITH CORP. & SUBS. v. COMMISSIONER

Docket No. 18248-95.

108 T.C. 89 (1997)

MEREDITH CORPORATION & SUBSIDIARIES, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed February 27, 1997.


Attorney(s) appearing for the Case

James L. Malone III, for petitioner.

Lawrence K. Letkewicz and Jan E. Lamartine, for respondent.


OPINION

NIMS, Judge:

This matter is before the Court on petitioner's motion and respondent's cross-motion for partial summary judgment filed pursuant to Rule 121 on July 26, 1996, and November 8, 1996, respectively. Petitioner moves for partial summary judgment in its favor, arguing that it is entitled to deduct contingent acquisition costs incurred after the asset to which they pertain has been completely amortized.

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