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DOUGLAS v. COMMISSIONER OF INTERNAL REVENUE

Docket No. 24663-09.

T.C. Memo. 2011-214

CHARLES R. AND SHANDA G. DOUGLAS, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent

United States Tax Court.

Filed August 31, 2011.

Attorney(s) appearing for the Case

Howard S. Levy , for petitioners.

Terry Serena , for respondent.

MEMORANDUM FINDINGS OF FACT AND OPINION

GOEKE, Judge.

Respondent determined a deficiency of $44,625 and an accuracy-related penalty of $8,925 under section 6662(a)1 for 2007. After a concession,2 the issues remaining for decision are:

(1) Whether petitioners are entitled to a flowthrough deduction under section 179 for expenses of an aircraft owned by an S corporation, Bantam Leasing, Inc...

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