United States Tax Court July 30, 1957, Docket No. 58808 (Dab v. Commissioner)

OPINION.

Van Fossan, Judge:

The first question presented is whether a leasehold for 99 years can be depreciated or amortized over 20 years, the estimated remaining life of a building contained thereon.

Petitioner was a partner in a group which acquired by assignment a leasehold on property at 360 Central Park West, Hew York City, on January 5,1949.