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section 1.469-5T(a)(1), (7), Temporary Income Tax Regs., supra,
which provide that a taxpayer shall be treated as materially
participating in an activity if he participates in the activity
for more than 500 hours during such year, or if, based on all the
facts and circumstances, the taxpayer participates in the
activity on a regular, continuous, and substantial basis during
the taxable year.
A taxpayer may establish the extent of his or her
participation in a particular activity by any reasonable means.
Sec. 1.469-5T(f)(4), Temporary Income Tax Regs., 53 Fed. Reg.
5727 (Feb. 25, 1988). The taxpayer has the burden of proving
material participation in the activity. Rule 142(a). Petitioner
and Mr. Saldivar credibly testified to petitioner's significant
level of participation in the treasure hunting and gold mining
activity. Petitioner transported heavy equipment twice from
Tucson, Arizona, to Goliad, Texas, round trip, which accounts for
almost 100 hours. He also operated the tractor and manned the
pumps during the night shift throughout the Goliad operation
which accounts for approximately 200 hours of participation.
Additionally, petitioner negotiated contracts for the venture and
purchased equipment to be used in the various operations
conducted by the venture. These miscellaneous activities when
combined account for, at a minimum, the remaining 200 hours.
Although this Court has not always accepted a post-event
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