- 20 -
education expenses to be petitioner's personal
business expense and contends
that such amount is deductible
as compensation to petitioner.
800 consulting fees The corporation conceded 400
to be petitioner's personal
business expense and contends
that such amount is deductible
as compensation to petitioner;
respondent conceded 400.
Taxable Year Ending June 30, 1987
Amount of Purpose of
deduction claimed deduction claimed
by the corporation by the corporation Concessions and Arguments
$22,622 other deduction The corporation conceded
entire amount to be
petitioner's personal real
estate expense and contends
that entire amount is
deductible as compensation to
petitioner.
38,979 other deduction The corporation conceded
19,489 to be not deductible
for the purpose claimed and
contends that such amount is
deductible as compensation to
petitioner; respondent
conceded 19,489. [1-dollar
mathematical error by the
parties]
823 real estate taxes Respondent conceded entire
amount.
3,500 legal and The corporation conceded
professional fees entire amount to be
petitioner's personal expense
and contends that entire
amount is deductible as
compensation to petitioner.
4,600 consulting fees The corporation conceded 1,400
to be petitioner's personal
expense and contends that such
amount is compensation to
petitioner; respondent
conceded 3,200.
5,000 furniture and The corporation conceded
fixtures entire amount to be not
deductible; respondent allowed
Page: Previous 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 NextLast modified: May 25, 2011