Tolbert S. Wilkinson and Suzanne T. Wilkinson - Page 7

                                          7                                           
       Year Farm Expenses Farm Losses  Farm Gross Income   Medical Corp.              
       1986    $47,698      $50,598       ($2,900)          $370,056                  
       1987     79,230       78,430           800            646,554                  
       1988    109,216      109,216             0            497,333                  
       1989    141,857      135,742         6,115            479,500                  
       1990    132,987      117,420        15,567            498,521                  
       1991    137,882      121,857        16,025            540,258                  
       1992    119,934      103,196        16,738            232,942                  
       Total  768,804      716,459        52,345          3,265,164                   
          The negative farm gross income in 1986 was the result of a                  
          reported loss on the sale of a horse.  Some of the farm expenses            
          claimed from 1986 through 1992 are as follows:                              
          Mortgage                          Repairs/                                  
          Year  Depreciation  Interest   Taxes   Labor    Feed  Maintenance           
          1986    $2,915         --       --      --      --        --                
          1987     7,815      $14,074   $1,305   $1,183  $7,509     --                
          1988    24,627       21,461    1,787   15,692  11,285    $696               
          1989    24,966       28,372    1,582   20,161  16,338   6,273               
          1990    26,024       27,583      297   19,427  11,379  14,667               
          1991    25,497       22,960    1,537   21,999  15,291  15,092               
          1992    27,065       24,470    2,076   24,845   9,601   7,614               

                                       OPINION                                        
          A.  Relationship Between Petitioners' Ranching Activity and Their           
          Medical Corporation                                                         
               Petitioner claims that he participated in polo as a means of           
          obtaining clients, and that therefore the ranching activity and             
          the medical corporation should be considered as one activity for            
          purposes of determining the overall profitability of the ranch.             
          Respondent contends that the two activities are separate for                
          purposes of section 183.                                                    






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