Daniel V. Presnick - Page 4

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          of deficiency are presumed to be correct, and petitioner bears              
          the burden of proving otherwise.  Rule 142(a); Welch v.                     
          Helvering, 290 U.S. 111, 115 (1933).                                        
               Section 61(a) defines gross income to mean all income from             
          whatever source derived including, but not limited to,                      
          compensation for services, including fees, commissions, fringe              
          benefits, and similar items.  Sec. 61(a)(1).                                
               Petitioner contends that the amounts he received from                  
          Florida Realty are not includable in his gross income because               
          such amounts were reimbursements for amounts that he paid to                
          maintain the Guilford rental property.  Alternatively, he argues            
          that, if such amounts are includable in income, he should be                
          entitled to business expense deductions for the amounts that he             
          advanced on behalf of Florida Realty.  Petitioner further claims            
          that he is entitled to business expense deductions for certain              
          amounts he paid to wind up his law practice, subsequent to his              
               Petitioner has failed to meet his burden of proof.  Rule               
          142(a).  He did not comply with the requirements of the standing            
          pretrial order.  He has not shown good cause for his failure to             
          exchange his documents with respondent as required by the                   
          pretrial order, and the Court did not receive them in evidence.             
          His testimony was disjointed, contradictory, and, at times,                 

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