Unpublished Disposition, 933 F.2d 1014 (9th Cir. 1991)

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US Court of Appeals for the Ninth Circuit - 933 F.2d 1014 (9th Cir. 1991)

Robert E. KLINE, Maureen Kline, Petitioners-Appellants,v.COMMISSIONER INTERNAL REVENUE SERVICE, Respondent-Appellee.

No. 89-70502.

United States Court of Appeals, Ninth Circuit.

Argued and Submitted March 7, 1991.Decided May 21, 1991.

Before HUG, ALARCON and WIGGINS, Circuit Judges.


MEMORANDUM* 

Petitioners-appellants Robert and Maureen Kline petitioned the Tax Court, pursuant to Internal Revenue Code ("I.R.C.") Sec. 6213(a), for redetermination of the Commissioner's finding of a $17,310.16 deficiency in their joint federal income tax for the 1981 tax year. The deficiency resulted from the tax consequences of the Klines' participation in ACF Investments ("ACF"), a general partnership that had, in turn, entered into the Broadway Centre joint venture to construct and lease an office building. The Tax Court concluded that Broadway gave up sufficient control over the proceeds of the wraparound note and that it was in substance required to use them to service the first-lien note.

We have jurisdiction pursuant to 26 U.S.C. § 7482(a) (1). We affirm the judgment of the Tax Court for the reasons set forth in the thorough and well-reasoned Memorandum Opinion issued by that court.

AFFIRMED.

 *

This disposition is not appropriate for publication and may not be cited to or by the courts of this circuit except as prvided by 9th Cir.R. 36-3