Mary T. King and Fatai O. King - Page 2




                                         - 2 -                                          
             Unless stated otherwise, all section references are to the                 
             Internal Revenue Code as in effect for the year in issue                   
             and all Rule references are the Tax Court Rules of Practice                
             and Procedure.                                                             
                  The issues for decision in this case involve                          
             petitioners’ return for 1993.  After concessions, the                      
             issues are:  (1) Whether petitioners are entitled to deduct                
             the Schedule C expenses claimed on their return in the                     
             aggregate amount of $34,750 or the expenses allegedly                      
             proven at trial in the aggregate amount of $39,403; (2)                    
             whether petitioners are liable for the accuracy-related                    
             penalty under section 6662(a); and, (3) whether petitioners                
             are liable for an addition to tax under section 6651(a)(1).                
                  Petitioners have prosecuted other cases before this                   
             Court.  Their return for 1992 is the subject of King v.                    
             Commissioner, T.C. Memo. 1998-69, and their return for 1994                
             is the subject of King v. Commissioner, T.C. Memo. 1999-                   
             293.                                                                       

                                   FINDINGS OF FACT                                     
                  Petitioners are husband and wife who filed a joint                    
             individual tax return for 1993.  At the time they filed the                
             petition in this case, petitioners resided in Wyndmoor,                    
             Pennsylvania.  In this opinion, references to petitioner                   
             are to Mr. Fatai O. King.                                                  





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