Jack A. and Nancy R. Haigh - Page 3

                                        - 3 -                                         
          Oklahoma.  According to petitioner, the farm was owned and                  
          operated by his parents for many years.  Upon his father's death,           
          the farm passed to his mother, who with petitioner's help                   
          continued to farm the property until her death in 1982.                     
          Petitioner claims that he operated the farm after the death of              
          his mother.  He now claims to be the owner of the property,                 
          although for reasons unexplained, the property is still titled in           
          his mother's name.  According to petitioner, he traveled to the             
          farm from his residence in Florida several times a year in order            
          to plant and harvest crops.                                                 
               During the years in issue, there were several structures on            
          the farm property, including barns and a farm house.  The house             
          was uninhabitable, and petitioner stayed in a local motel when he           
          traveled to the farm from his residence.  There were no                     
          recreational facilities on the property, such as tennis courts or           
          swimming pools.  According to petitioner, there were two crops              
          planted and harvested on the farm during the years in issue,                
          wheat and peanuts, although there is no corroborative evidence on           
          this point.                                                                 
               Petitioners filed Schedules F, Profit or Loss from Farming,            
          with their Federal income tax returns for the years 1991, 1992,             
          and 1993.  Petitioners' returns for those years were prepared by            
          a certified public accountant.  On the Schedules F, petitioner              
          reported farm income in the respective amounts of $960, $1,215,             
          and $1,100.  Petitioner also claimed farm expense deductions                




Page:  Previous  1  2  3  4  5  6  7  Next

Last modified: May 25, 2011