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P has played the bass viol professionally for over a decade. The viol at issue was built by Francesco Ruggeri (c. 1620-1695). Ruggeri studied stringed instrument construction under Nicolo Amati, who also instructed Antonio Stradivari. P purchased the viol for $28,000 on November 8, 1984; at that time, it was in an excellent state of restoration and had no apparent cracks or other damage. P acquired the viol with the belief that it would serve him throughout his professional career, about 30 to 40 years. P exchanged it for a Domenico Busan 18th-century bass viol (Busan) on May 10, 1991, that was appraised at $65,000 on the date of the exchange. P thought that the 'more vocal' tonal quality of the Busan would appeal to audition committees more than the 'rich, deep' sound of the viol. In 1987, P claimed a deduction for the Ruggeri that had been used in his trade or business. P used it for practice, auditions, rehearsals, and performances with symphony orchestras. That use subjected it to wear and tear that did not reduce its economic value as a collectible. Ps claimed a depreciation deduction of $3,170 and D disallowed this deduction in full, stating in her notice of deficiency that the viol 'in fact will appreciate in value and not depreciate.' P petitioned.

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