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ERICKSON POST ACQUISITION, INC. v. COMMISSIONER

Docket No. 8218-00.

86 T.C.M. 111 (2003)

T.C. Memo. 2003-218

Erickson Post Acquisition, Inc. v. Commissioner.

United States Tax Court.

Filed July 22, 2003.

Attorney(s) appearing for the Case

Lee N. Johnson, for the petitioner.

Reid M. Huey, for the respondent.

MEMORANDUM FINDINGS OF FACT AND OPINION

JACOBS, Judge.

Respondent determined deficiencies in petitioner's Federal income tax of $18,946 for 1996 and $1,719 for 1997.

The issue for decision is whether $175,000 petitioner received from Amoco Oil Co. (Amoco) in 1996 is deferred income under section 61(a), as respondent contends, or a loan excluded from income, as petitioner contends.

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