- 99 -
for himself, Betsy, and the children to go to the Los Angeles
Olympics in 1984, and we do not perceive any such business
purpose.
Petitioner testified that Betsy told him that she would
reimburse Markette, but she did not in fact reimburse Markette.
We conclude, and we have found, that the tickets to the 1984
Los Angeles Olympics were personal. Respondent proved by clear
and convincing evidence that Markette paid $1,359.55 for these
tickets. Thus, Betsy received a $1,359.55 constructive dividend
from Markette.
We hold for respondent on this issue.
New York
Markette paid $496 for airfare and $494.34 for hotel and
meals for a trip to New York, N.Y., on September 9, 1983, and a
return on September 11, 1983, for petitioner, Betsy, and the
children. See Findings Check Nos. 1903 and 1912--New York City,
supra. On opening brief, petitioner “concedes that any travel
related to the children is a constructive dividend.” As detailed
in our findings, supra, of the total $990.34, we have attributed
$520 to the children and the remaining $470.34 to petitioner and
Betsy.
We have accepted petitioner’s and Betsy’s testimony to the
effect that the purpose of this trip was for petitioner and Betsy
to go to the “diamond district” in New York City to talk with
Page: Previous 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 NextLast modified: May 25, 2011