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C. The Racking Horse Association Registry
The Racking Horse Association maintains a registry of racking
horses. It planned to close its registry around 1995 to limit the
racking horses in the registry to those with a specific gait.
D. Petitioners' Farm and Nonfarm Income and Farm Losses
Petitioners had the following amounts of gross receipts and
losses from their horse and farm activity from 1982 through 1997:2
Farm
loss not Farm loss Reported
Gross including including Schedule F
Year receipts1 depreciation depreciation loss
1982 $15,531 $75,980 $113,480 $115,186
1983 3,564 93,830 132,070 132,385
1984 22,015 91,922 131,341 N/A
1985 27,037 59,215 94,675 104,923
1986 9,670 52,846 58,096 81,077
1987 8,009 53,787 63,787 66,751
1988 24,244 32,145 35,595 39,340
1989 11,708 35,596 39,628 49,130
1990 14,277 36,458 40,348 50,360
1991 18,470 36,299 41,285 45,310
1992 22,900 32,516 38,209 42,535
1993 20,388 41,246 41,246 45,290
1994 25,598 39,309 43,178 45,845
1995 17,890 38,128 41,247 43,596
1982-95
Total 241,301 719,277 914,185 861,728
1996 56,300 29,900 45,158 37,689
1997 30,203 39,116 39,116 42,539
1982-97
Total 327,804 788,293 998,459 941,956
1 This column is the total income from paragraphs B-7 and B-8
above.
2 The amounts in the first three columns are from
petitioners’ financial records. The amounts in the last column
are from petitioners’ income tax returns.
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