- 5 -
Petitioner and Mr. Glass made one demonstration of the
record-keeping software to a woman who was the owner of a small
business; however, the date of this demonstration is unknown. No
records of the joint venture were produced, no testimony was
elicited as to an amount of any specific expenditure, and Mr.
Glass indicated that petitioner did not contribute any funds to
the joint venture. Petitioners filed their 1989 Federal income
tax return (the original return) on or before April 15, 1990. The
original return was prepared by the accounting firm of Williams &
Tucker. On the Schedule C attached to the return, petitioner
reported gross income from his computer consulting activity in
the amount of $81,817 and claimed the following expenses:
Expense Amount claimed
Car and truck $3,390
Rent/lease of
business equipment 50
Supplies 138
Travel 1,562
Meals and entertainment 140
Utilities 432
Education 1,824
Bank charges 153
Laundry 520
Temporary help 2,525
Home office 1,253
11,987
On that return, petitioners claimed a charitable contribution
deduction in the amount of $18,151 on Schedule A and a child care
credit in the amount of $960.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Next
Last modified: May 25, 2011