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During the years at issue, petitioners paid professional
fees to a land use planning firm and engineers for services such
as review of the land use plan, a wetlands survey, and evaluation
of sewerability. Petitioners also paid for legal assistance in
their zoning appeal and in negotiating the stipulation. Other
expenditures included payment for repair of a broken floppy disk
drive on petitioners' computer and for typing services.
Petitioners used their computer for word processing, to keep
business records, and to prepare their tax returns. In 1992,
petitioners used the services of a tax accountant and a tax
lawyer to review their records.2
Petitioners timely filed U.S. Individual Income Tax Returns
for the taxable years 1991 and 1992. They claimed deductions for
LM Development's 1991 and 1992 business activities on Schedules C
as follows:
2 Petitioner Lee Hustead so testified without specifying
the amount paid, which on brief petitioners listed as $650.
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Last modified: May 25, 2011