- 6 - support the activity. Petitioners enlarged their old barn, built a new barn, and added stalls, wash racks, an indoor arena, and an office. Mr. Strickland did much of the work. Petitioners asked their certified public accountant how to set up their records. They asked successful breeders about the type of horses to acquire for their horse activity. They considered acquiring a stallion, but owning a stallion would require them to modify their facilities to do so. Petitioner ran the daily operations of their horse activity. They intended to promote their activity by being successful at horse shows. Petitioners did not have a written business plan. 2. Horses That Petitioners Acquired, Bred, and Sold Petitioners owned 1 horse at the end of 1992, 4 at the end of 1993, 5 at the end of 1994, 11 at the end of 1995, and 12 at the end of 1996. Petitioners bought, foaled, and sold horses as follows: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