Memorandum Findings of Fact and Opinion
KÖRNER, Judge:
In his notice of deficiency respondent determined a deficiency in petitioners' 1982 Federal income tax of $28,241.64. After concessions, the issues for decision are: (1) whether petitioners are entitled to deduct $57,781 of expenses related to their yacht "Fantasy;" (2) whether petitioners are entitled to deduct $2,826 of depreciation from another asset; and (3) whether petitioners are entitled...
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