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D. Eugene Kida
Eugene Kida (Kida) worked for Westfield Gage from 1984 to
1995. He is a certified public accountant (C.P.A.) and has a
master's degree in Business Administration.
Kida prepared petitioners' personal income tax returns while
he worked for Westfield Gage. To prepare petitioners' income tax
returns, Kida reviewed Kuta's horse racing and breeding records.
Kida reviewed petitioners' tax returns with petitioner each year.
E. Petitioner's Horse Racing and Breeding Activity
1. General
Petitioner bought his first thoroughbred horse in 1955.
Petitioner kept a horse 3 or 4 years after it was born so he
could decide whether he thought it would race successfully.
Petitioner's best horses generally ran in races paying purses
from $12,000 to $30,000.
Petitioner never trained or stabled any of his horses at or
near his home in West Springfield. He did not own a farm or any
equipment used in his horse activity. Petitioner rode horses at
riding stables or riding schools near his home. He and the
members of his family did not ride his horses.
2. Horse Publications
Petitioner subscribed to various horse industry publications
including The Blood Horse and Thoroughbred Record from 1959
through the years in issue. He read many horse racing and
breeding books and magazines. He also read The Blood Horse
Stallion Register, which was published annually. It contains
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Last modified: May 25, 2011