- 13 - 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 expendituresPage: Previous 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Next
Last modified: May 25, 2011