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deduction of $1,829 for travel expenses. Petitioner provided no
evidence at the trial; he was given additional time after the
trial to provide documentary evidence and he failed to do so.
Respondent's determination on this issue is sustained in full.
7. Meals and Entertainment Expenses of $942, Less the 20
Percent Limitation ($188) for a Deduction of $754
Petitioner has completely failed to meet the recordkeeping
and substantiation requirements of section 274(d) for meals and
entertainment expenses. Petitioner presented no evidence at the
trial; he was given additional time after the trial to provide
documentary evidence and he failed to do so. Respondent's
determination on this issue is sustained in full.
8. Publications Expenses of $427
Petitioner purchased nonbusiness publications (Esquire,
Vanity Fair, Details) without providing any persuasive evidence
of business use. Petitioner failed to provide any substantiation
of his publications expense in the amount of $427, even though he
was given additional time after the trial to provide documentary
evidence. Respondent's determination on this issue is sustained
in full.
9. Printing Expenses of $15,300
Petitioner's total Schedule C reported gross income amounted
to $21,876, of which only $3,500 was attributable to the creative
fees charged for the brochures and folios that he produced for
real estate brokers.
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Last modified: May 25, 2011