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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.
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