- 14 - Rallye Motors, he incurred expenses incident to that employment for which he did not feel it was proper to claim reimbursement. Petitioner has provided no detail of any expenses he may have incurred. Petitioner has failed to convince us that, during 1988, he incurred any unreimbursed, business-related expenses. Petitioner has failed to carry his burden of proof on this issue, and we sustain so much of respondent’s determination as relates thereto. 3. Schedule C Deductions In her notice of deficiency, respondent included adjustments disallowing “Schedule C Expenses” for 1987 and 1988 in the amounts of $5,331 and $4,745, respectively. After taking into account concessions by the parties, only the following expenses remain in dispute: 1987 1988 Car & truck $687 $815 Dues 185 122 Office, rent & utilities 1,651 1,691 Supplies 68 263 Those expenses were claimed by petitioner on Schedules C, Profit or Loss From Business, attached to petitioner’s Forms 1040 for 1987 and 1988, respectively. Those Schedules C identify the trade or business in question as horse racing and breeding. Respondent has allowed substantial amounts as deductions in connection with petitioner’s horse racing and breeding business. Petitioner has not convinced us that he incurred deductiblePage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Next
Last modified: May 25, 2011