Summary
At issue is whether petitioner is entitled to deductions for amortization of amounts paid to William Wright for a noncompetition and consulting agreement.
See Also
Tax Court Denies Amortization of Lion's Share of Employment Agreement and Noncompete Payments
The Totem Lake dealerships of Kirkland, Wash., while under the ownership of Mr. Wright, experienced a great deal of negative publicity which resulted in sustained financial losses for 1986 and 1987.