- 5 - Petitioners spent only a few hours a day 3 or 4 days a week working on their horse breeding and horse racing activities. Petitioners would talk to trainers regarding their racehorses, determine in which races their horses would run, select the stallions with which to breed their broodmares, and arrange for veterinary care for their horses. For 1980 through 1984, the record does not indicate how many foals were produced in petitioners' horse breeding activity. In 1982 and 1984, petitioners spent approximately $630 and $380, respectively, in advertising for sale foals that their broodmares had produced. Petitioners did not advertise the sale of their horses in any other year. From 1980 through 1984, petitioners did not sell any foals produced from their broodmares, and petitioners realized no income from their horse breeding activity. With respect to the horse racing activity, from 1980 through 1984, petitioners' horses ran in 118 races in California, and petitioners' horses placed first in 19 of the races. The record does not indicate the number of times petitioners' horses placed second or third. From 1980 through 1984, petitioners won total prize money from their horse racing activity of approximately $133,542, but, after expenses, petitioners realized total combined net losses from their horse breeding and horse racing activities of approximately $613,538.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