MONICO v. COMMISSIONER

Docket No. 23496-95.

75 T.C.M. 1555 (1998)

T.C. Memo. 1998-10

Larry A. and Kathleen T. Monico v. Commissioner.

United States Tax Court.

Filed January 12, 1998.


Attorney(s) appearing for the Case

Rodger G. Mohagen, Fargo, N.D., and Daniel J. Frisk, for the petitioners. Gail K. Gibson, for the respondent.


MEMORANDUM OPINION

HALPERN, Judge:

By notice of deficiency dated September 21, 1995, respondent determined the following deficiencies in petitioners' Federal income taxes:

Tax Year                           Deficiency

1990 ...........................    $35,219
1991 ...........................     60,129
1992 ...........................     66,435

After concessions, the only issue is whether payments received by...

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