Donald Francis Cook - Page 2

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            Year        Deficiency            Accuracy-Related Penalty                
            1994          $12,258                      $2,451                         
            1995          14,219                       2,843                          
               We must decide whether the determinations in the notice of             
          deficiency (notice) for each of the years at issue that have not            
          been conceded by respondent should be sustained.  We hold that              
          they should.                                                                
               Some of the facts have been stipulated and are so found.  On           
          November 9, 1998, respondent filed a request for admissions with            
          the Court, a copy of which respondent had served on petitioner on           
          November 4, 1998.  Petitioner did not file any response to that             
          request.  As a result, each matter set forth in respondent's                
          request for admissions is deemed admitted.  See Rule 90(c);                 
          Marshall v. Commissioner, 85 T.C. 267, 272 (1985).                          
               Petitioner resided in Lake Forest, California, at the time             
          he filed the petition.                                                      
          During the years at issue, petitioner was self-employed as a                
          building contractor.  Petitioner filed Form 1040, U.S. Individual           
          Income Tax Return, for each of the years 1994 and 1995.  Peti-              
          tioner reported certain income and claimed certain expenses from            
          his activities as a building contractor in Schedule C of Form               
          1040 (Schedule C) for each of those years.                                  
               In the notice issued to petitioner, respondent made adjust-            
          ments to certain items of income and expense that petitioner                

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