¹Elmer J. Benes, 355 F2d 929 (6th Cir. 1966), aff'g 42 TC 358 (1964); Rev. Rul. 72-317, 1972-1 CB 128.

²See, e.g., Limericks, Inc., 165 F2d 483 (5th Cir. 1948), aff'g 7 TC 1129 (1946); C.E. Hightower, 187 F2d 535 (5th Cir. 1951); Kerrigan Iron Works, Inc., 17 TC 566 (1951).

³Mark R. Switz Inc., TC Memo 1979-162.

⁴Jefferson Block and Supply Co., 492 F2d 1243 (6th Cir. 1974), aff'g 59 TC 625 (1973).

⁵See, e.g., Thomas P. Krukowski, 114 TC 366 (2000); A. Remy Fransen, Jr., 191 F3d 599 (5th Cir. 1999); Stephen Schwalbach, 111 TC 215 (1998); Chester F. Sidell, TC Memo 1999-301.

⁶Jaeger Motor Car Co., 284 F2d 127 (7th Cir. 1960), aff'g TC Memo 1958-223.

⁷Raymond R. Weigel, TC Memo 1996-485.

⁸See Est. of Jerry Thomas, 84 TC 412 (1985); Aditya B. Mukerji, 87 TC 926 (1986); Hardy Co., Inc., TC Memo 1987-63.

⁹See id., see also Jack S. James, 899 F2d 905 (10th Cir. 1990), aff'g 87 TC 905 (1986); Leonard Lansburgh, TC Memo 1987-164.

¹⁰IRS Letter Ruling 9748005 (8/19/97).

¹¹Frank Lyon Co., 435 US 561 (1978), rev'g 536 F2d 746 (8th Cir. 1976).