George B. Parks; Marna C. Parks, Petitioner-appellant, v. Commissioner of Internal Revenue, Respondent-appellee, 67 F.3d 308 (9th Cir. 1995)

MEMORANDUM^** 

Taxpayers George and Marna Parks appeal pro se the Tax Court's decision, upholding the Commissioner of Internal Revenue's ("Commissioner") determination that the Parks were liable for a deficiency in income tax for tax year 1987. The Tax Court found that the Parks's had overstated the fair market value of a sailboat which they donated to the California Maritime Academy Foundation. The Parks also appeal the Tax Court's decision upholding the Commissioner's additions to tax for negligence under I.R.C. Sec. 6653(a) (1) (A) & (B), for making a valuation overstatement under I.R.C. Sec. 6659, and for entering into a tax motivated transaction pursuant to 26 I.R.C. Sec. 6621(c).

We review for clear error the tax court's determination of fair market value. Doherty v. Commissioner, 16 F.3d 338, 339 (9th Cir. 1994). Whether underpayment was attributable to a valuation overstatement for purposes of addition to tax under section 6659 turns on a factual finding also reviewed for clear error. Wolf v. Commissioner, 4 F.3d 709, 715 (9th Cir. 1993). Finally, we review for clear error the tax court's decision to uphold the assessment of a negligence penalty pursuant to section 6653, and the imposition of increased interest pursuant to section 6621. Id.

We have jurisdiction under 26 U.S.C. § 7482. We have reviewed the record, and affirm the for reasons stated by the Tax Court in its memorandum opinion.

AFFIRMED.