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total of $54 to the cost bases of the horses, purportedly
attributable to direct charges associated with their purchase.
Accordingly, petitioners claimed depreciation with respect to
these horses, calculating a total depreciable basis in the amount
of $1,954. Petitioners have stipulated that they have not
supplied any substantiation as to the cost of these three horses.
Petitioners claimed depreciation with respect to farm-
related tools and equipment placed in service on January 1, 1989,
and business equipment placed in service on January 1, 1990.
Petitioners have stipulated that they have not provided any
substantiation as to the cost of these items.
Petitioners claimed depreciation with respect to library
materials placed in service on January 1, 1989 and 1990.
Petitioners have stipulated that they have not provided any
substantiation as to the cost of these items.
Petitioners claimed depreciation with respect to the
following five vehicles:
Business Placed in Cost Remaining
Description Use Service Basis Basis Years Method Deduction
Dodge 1-ton 100% 1/1/88 $2,500 $720 5 200 DB $288
Jeep Wagon 100 1/1/88 1,200 346 5 200 DB 138
Ford 1-Ton 100 1/1/88 2,000 576 5 200 DB 230
Chevy C-50 100 8/6/91 2,196 2,196 5 � 200 DB 440
Dodge 3/4-ton 100 8/10/91 4,176 4,176 5 � 200 DB 834
Total 1,930
Petitioner calculated the depreciable bases of the three vehicles
that were placed in service on January 1, 1988, from his estimate
of their respective fair market values as of that date.
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Last modified: May 25, 2011