- 2 - Phillip Vazzana and Estate of Yvonne Vazzana, docket No. 914-96 Additions to Tax Year Deficiency Sec. 6653(a) Sec. 6653(b)(1) Sec. 6661 Sec. 6663(a) 1988 $69,781 $1,786 $25,550 $17,445 -- 1989 190,002 -- -- -- $14,251 Joseph M. Valenza and Mildred Valenza, docket No. 915-96 Additions to Tax Year Deficiency Sec. 6653(a) Sec. 6653(b)(1) Sec. 6661 Sec. 6663(a) 1988 $28,383 $112 $19,609 $7,096 -- 1989 20,941 -- -- -- $15,706 All section references are to the Internal Revenue Code in effect for the years in issue, and all Rule references are to the Tax Court Rules of Practice and Procedure. After concessions, the issues for decision are as follows: 1. The extent to which petitioners underreported the gross receipts of Valenza & Vazzana Construction Co. (V&V). We hold that they underreported such receipts by $121,289 for 1988 and $101,029 for 1989. 2. Whether petitioners have substantiated certain V&V expenditures. We hold that they have to the extent provided below. 3. Whether petitioners are each entitled to a depreciation deduction relating to their rental property. We hold that they are not.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 Next
Last modified: May 25, 2011