- 9 -
D. Petitioners’ Tax Returns
Petitioners asked to extend the times to file, deposited
amounts with their requests, and filed their returns for the
years in issue as follows:
Date Date
Tax Date of Amount of extension petitioners
year request deposit granted to filed
1985 Apr. 15, 1986 $14,000 Aug. 15, 1986 Sept. 20, 1993
1987 Apr. 15, 1988 10,000 Aug. 15, 1988 Sept. 27, 1993
1989 Apr. 15, 1990 Aug. 15, 1990
1989 Aug. 15, 1990 Oct. 15, 1990 Oct. 1, 1993
1990 Apr. 15, 1991 7,000 Aug. 15, 1991
1990 Aug. 15, 1991 Sept. 16, 1991 Oct. 1, 1993
The following chart shows the amount of the depreciation and
section 179 deductions that petitioners’ accountant calculated
and that petitioners reported on Schedules C, Profit or (Loss)
From Business or Profession, of petitioners’ returns for 1985,
1987, 1989, and 1990:
Depreciation and Section 179 Deductions
Accountant’s Petitioners’
Year schedules Schedules C
1985 $48,855 $51,308
1987 54,789 53,513
1989 47,693 53,413
1990 35,741 59,463
Petitioners filed their 1983 return in 1992 and their 1984,
1986, and 1988 returns in 1993. Petitioners claimed 3 months
depreciation for the Ram Charger on their 1984 return.
On Schedules E, Supplemental Income Schedule, of their
Federal individual income tax returns for 1993, 1994, 1996, and
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