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We have found that petitioner was not a dealer or a trader
but an investor for the 1987, 1988, and 1989 years.
Consequently, petitioner's losses from his stock activity were
capital losses. Petitioner's entry on his 1987 return is not
evidence that a loss has been incurred. See Wilkinson v.
Commissioner, 71 T.C. 633, 639 (1979); Roberts v. Commissioner,
62 T.C. 834, 837 (1974). Petitioner has failed to sustain his
burden of proving that he is entitled to an NOL deduction for
1988. Consequently, respondent's disallowance is sustained.
4. Charitable Contribution Deduction
We must consider whether petitioner is entitled to
additional charitable contribution deductions in the amounts of
$500 and $750 for the 1987 and 1988 taxable years, respectively.
Petitioner deducted $2,000 and $1,500, respectively, for
contributions made by cash or check on his 1987 and 1988 income
tax returns. Respondent allowed charitable contributions of
$1,500 and $750 for 1987 and 1988, respectively. Respondent
contends that petitioner substantiated only $25 of his charitable
contributions for 1987 and none for 1988. Petitioner argues
that, although he does not have the canceled checks or supporting
documentation, the claimed amounts are deductible as they are
based on his estimates from past years' patterns of charitable
giving.
In general, a taxpayer is entitled to deduct charitable
contribution payments made during the taxable year to or for the
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