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C.P.A. signed Lakeview's 1992 Form 1120S that labels the $75,000
as rent. A third characterization of the payment was made on a
Form 1099 issued by Lakeview to William labeling it as
"Nonemployee compensation".
With respect to the claimed deductions for the legal fees,
gate, roof, and computer expenses, petitioner has failed to meet
the burden of showing that Lakeview provided its accountant with
complete and accurate information. The only evidence pertaining
to the issue is Lakeview's C.P.A.'s signature on the
corporation's 1992 return, which we conclude is insufficient
support for the inference that Lakeview supplied its C.P.A. with
complete and accurate information. Petitioner argues on brief
that "at no time did respondent even attempt to claim that
[Lakeview's accountant] * * * had not been given all the facts by
petitioner." However, the burden is on petitioner to
affirmatively show that Lakeview's accountant received the
requisite information. Rule 142(a); see Selig v. Commissioner,
T.C. Memo. 1995-519.
To reflect the foregoing,
Decision will be entered
under Rule 155.
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