- 2 - Rule references are to the Tax Court Rules of Practice and Procedure. Respondent determined a deficiency in petitioner’s Federal income tax of $2,532 for the taxable year 1996. The issue for decision is whether petitioner was engaged in the trade or business of gambling in 1996. This case was submitted fully stipulated pursuant to Rule 122. All of the facts stipulated are so found. The stipulations of fact and the attached exhibits are incorporated herein by this reference. Petitioner resided in Oakdale, Wisconsin, on the date the petition was filed in this case. Petitioner’s audit commenced on July 2, 1998. Petitioner is semiretired. During the year in issue, he was engaged in a business in which he purchased and sold antiques. He incurred a loss of $3,415 in this business. Also during 1996, petitioner visited the Ho-Chunk Casino in Baraboo, Wisconsin, on at least 89 occasions. Ho-Chunk Casino produced a Player Coin Report which indicates petitioner had “coin-in” and “coin-out” amounts during the year of $368,166.95 and $341,530.20, respectively. Petitioner made bank withdrawals from automated teller machines in connection with his Ho-Chunk gambling activity on 88 separate dates. The following summarizes on a monthly basis the number of days he made withdrawals: Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 3 11 3 3 11 6 9 13 10 17 2 0Page: Previous 1 2 3 4 5 6 7 8 9 Next
Last modified: May 25, 2011