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Commissioner, 994 F.2d 1542, 1549 (11th Cir. 1993), affg. T.C.
Memo. 1991-636 (once the Commissioner made a minimal evidentiary
showing, the deficiency determination was presumed correct).
Respondent's analysis of petitioner's bank deposits and
petitioner's concession that he did not report income of $44,405
and $58,669 for 1989 and 1990, respectively, connect petitioner
with the funds forming the basis of the deficiency. The burden
of proof, therefore, lies with petitioner to show error in
respondent's determinations. See Schad v. Commissioner, 87 T.C.
609, 620 (1986), affd. without published opinion 827 F.2d 774
(11th Cir. 1987) (connecting the taxpayer with the funds that
form the basis of the deficiency is sufficient to give him the
burden of proving the deficiency determination erroneous).
Petitioner did not present any evidence or argument, other
than that respondent bears the burden of proof, to prove that he
did not omit from income any of the cash or checks listed in the
schedules of omitted income, or that these funds were not taxable
income, during the years in issue. Petitioner has not met his
burden; therefore, we find that petitioner had unreported income
in the amounts of $50,292, $58,971, and $67,488 for 1988, 1989,
and 1990, respectively.
Mortgage Interest, Property Tax, and Real Estate COGS
Petitioner claimed deductions for mortgage interest and
property taxes paid relating to Ms. Choe's properties on his
Schedule A and claimed as costs of goods sold the expenditures
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