Unpublished Disposition, 860 F.2d 1088 (9th Cir. 1988)

MEMORANDUM^* 

Petitioner appeals the Tax Court's decision that petitioner lacked the requisite profit motive to entitle him to any business deduction under 26 U.S.C. 162 or amortization under 26 U.S.C. 1253(d) for a medical equipment license tax shelter. Factual findings of the United States Tax Court are reviewed under the "clearly erroneous" standard. Polakof v. C.I.R., 820 F.2d 321, 323 (9th Cir. 1987). The Tax Court did not clearly err in its determination that petitioner did not have the required profit motive to qualify the license as a trade or business.

Petitioner also appeals the Tax Court's disallowance of expenses for 1979 and 1980 from an interest in two oil wells. Petitioner conceded that he did not submit the appropriate proof for deductibility. Additionally, the Tax Court did not clearly err in its findings that petitioner did not submit the requisite proof. Id. Taxpayer asks in the alternative that he be allowed to capitalize the money he actually spent on the wells. Petitioner failed to raise this issue in the Tax Court below and this court will not consider an issue raised for the first time on appeal. Bolker v. C.I.R., 760 F.2d 1039, 1042 (9th Cir. 1981). The Tax Court's decision is affirmed.

AFFIRMED.