United States Tax Court January 14, 1981, Docket No. 11468-78 (Stradlings Bldg. Materials, Inc. v. Commissioner)

OPINION

Hall, Judge:

Respondent determined a deficiency in petitioner’s 1973 Federal income tax of $30,720. The sole issue for decision is whether petitioner is entitled to an $80,003 intangible drilling expense deduction in 1973.

This case was submitted fully stipulated.