- 6 -
Nuts, bolts, & master - 0 - - 0 - 1,600
Total 183,8831 109,012 138,933
Respondent allowed the following amounts:
1989 1990 1991
Depreciation--1988 Peterbilt $11,871 $5,940 - 0 -
Insurance 16,056 10,212 $10,800
Rent or lease 2,100 - 0 - - 0 -
Repairs 27,720 12,952 23,321
Truck wash - 0 - 717 - 0 -
Taxes & licenses 6,590 1,996 4,474
Utilities 4,631 3,672 3,672
Fuel 35,005 22,274 39,054
Tires 5,202 5,128 6,022
Oil, fuel & air filter 945 751 - 0 -
Lube Filter 230 390 - 0 -
CB radio, oil, hoist, A’freeze 745 1,050 2,078
Nuts, bolts, & masters - 0 - - 0 - 860
Truck interest 10,941 6,103 1,927
Total 122,036 71,185 92,208
Respondent did not allow payments of $42,942 and $31,710
reported by petitioners for 1989 and 1990, respectively, as
expenses of a 1986 Peterbilt truck and a 1988 Peterbilt truck.2
Mr. Tillman acquired the 1986 Peterbilt in January 1986, and he
began using it in Trucking’s business during that year. In
acquiring the 1986 Peterbilt, Mr. Tillman signed three agreements
with Pro Am Leasing, Inc. (Pro Am). The first agreement was
entitled “MASTER LEASE/PURCHASE AGREEMENT”. This agreement
1 Petitioners erroneously reported that these expenses
totaled $183,883. The total is actually $164,973.
2 However, she did allow petitioners to deduct the portion
of these payments that she determined was interest. She also let
petitioners deduct the depreciation that they reported for the
1988 Peterbilt.
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Last modified: May 25, 2011