Fred B. and Georgia Elane Berry - Page 10




                                               - 10 -                                                  
          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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