- 2 - Federal income taxes in the amounts of $2,539, $5,284, and $9,476, respectively. The issues for decision are: (1) Whether Jack A. Haigh is entitled to Schedule F expense deductions in excess of those allowed by respondent for each of the years in issue, and (2) whether petitioners are entitled to net operating loss carryovers in the amounts of $16,460, $2,567, and $3,851, for 1991, 1992, and 1993, respectively. Some of the facts have been stipulated and are so found. The stipulation of facts and the exhibits attached thereto are incorporated herein by this reference. During the years in issue, petitioners were husband and wife and filed joint Federal income tax returns. At the time the petition was filed, petitioners resided in Winter Park, Florida. References to petitioner are to Jack A. Haigh.2 During the years in issue petitioners resided in Winter Park, Florida. Petitioner was born in 1928. He had been employed by the U.S. Department of the Navy as a computer specialist but had retired at some point prior to the years in issue. The disputed issues in this case involve a 300 acre farm located on the banks of the Red River, 23 miles east of Durant, 2Nancy R. Haigh did not appear at trial or sign the stipulation of facts. The case was dismissed as to her for failure properly to prosecute. A decision will be entered against her consistent with the decision entered against Jack A. Haigh.Page: Previous 1 2 3 4 5 6 7 Next
Last modified: May 25, 2011