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SEITS v. COMMISSIONER

Docket No. 8541-93.

68 T.C.M. 972 (1994)

T.C. Memo. 1994-522

Kevin and Marilynn K. Seits v. Commissioner.

United States Tax Court.

Filed October 18, 1994.

Attorney(s) appearing for the Case

John H. Lavelle, 401 New Karner Rd., Albany, N.Y., for the petitioners. Tracy A. Murphy, for the respondent.

Memorandum Findings of Fact and Opinion

WELLS, Judge:

Respondent determined a deficiency in petitioners' Federal income tax in the amount of $86,144 for taxable year 1988.

The issue to be decided is whether the gain on the sale of petitioners' cooperative apartment is attributable to a passive activity under section 469.1

Findings of Fact

Some of the facts and certain documents were stipulated for trial...

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