Harry D. Bledsoe and Annie L. Bledsoe - Page 3

                                                - 3 -                                                   

            1988 and an accuracy-related penalty for 1989 for negligence or                             
            intentional disregard of rules or regulations; (6) whether                                  
            petitioners are liable for an addition to tax for the late filing                           
            of their 1988 tax return; and (7) whether petitioners are liable                            
            for additions to tax for 1987 and 1988 and an accuracy-related                              
            penalty for 1989 for substantially understating their income tax                            
                  Petitioners also claim that they had an overpayment of tax                            
            for 1989 due to an error made in the notice of deficiency,                                  
            because, as the parties now agree, petitioners' basis in                                    
            Resthaven should not be reduced by the amount of dividend                                   
                                         FINDINGS OF FACT2                                              
                  Petitioners, who during the years in issue were husband and                           
            wife, filed joint Federal income tax returns for the years 1987,                            
            1988, and 1989.  Petitioners resided in Wichita, Kansas, at all                             
            times relevant to this case.                                                                
                  Harry D. Bledsoe (petitioner), a high school graduate, began                          
            his career in the cemetery business in 1950.  He started as a                               

            1 This Court has jurisdiction to determine the amount of a                                  
            potential overpayment to which this petition relates.  Sec.                                 
            2 The stipulation of facts and the exhibits are incorporated                                
            by this reference.                                                                          

Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011