Harold W. and Julia A. Kahla - Page 6




                                        - 6 -                                         
          equipment and supplies.  The value of the acreage making up the             
          South Ranch as of May 11, 1992, was $1,270,500.  The value of the           
          house and improvements on the South Ranch as of May 11, 1992, was           
          $70,000.  The value of the acreage making up the South Ranch in             
          1993 and 1994 was $1,442,000. The value of the house and                    
          improvements on the South Ranch in 1993 and 1994 was $90,000.               
               During the years in issue, petitioners spent a considerable            
          amount of time on the South Ranch.  They fished and hunted on the           
          property.  In addition, since 1987, they escorted family members            
          across the South Ranch on guided hunts.                                     
          Petitioners’ Cattle-Raising Operations                                      
               Petitioner had a lifelong interest in cattle ranching.  He was         
          raised on his parents’ cattle ranch, where he gained practical              
          knowledge in raising and breeding cattle.  Petitioner began his own         
          cattle-ranching activities when he purchased nine cows and one bull         
          in 1973; by 1994, petitioners owned over 300 head of cattle.                
               Petitioners bred and raised cattle.  Cattle deemed surplus             
          were sold at biannual cattle auctions.  The following numbers and           
          types of cattle were sold at auction:                                       
               Year           Calves          Cows          Bulls                     
               1992           75             0              4                         
               1993           280            68             7                         
               1994           28             6              1                         
               1995           119            35             3                         
               1996           255            133            0                         
               1997           98             6              0                         







Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011