- 37 -
Additional Business Income
Respondent determined that petitioner received $1,085 in
business income that was not included in income on petitioners’
1989 Federal income tax return.13 In a stipulation of agreed
adjustments filed with this Court after the trial, the parties
identified the omission of that income as a disputed adjustment,
but petitioners did not address this issue in their briefs.
Accordingly, we treat the additional business income issue as
conceded by petitioners, and we sustain respondent’s
determination as to this income item. See Rule 151(e)(4) and
(5); Petzoldt v. Commissioner, 92 T.C. 661, 683 (1989); Money v.
Commissioner, 89 T.C. 46, 48 (1987).
Income From Prizes
Respondent determined that for 1989 petitioners failed to
include in income $2,223 attributable to a prize that petitioner
won during that year.14 Petitioners do not dispute that
petitioner won a laptop computer during 1989 or that the store
13At trial, petitioner stated that the issue was not in
dispute but commented further that he did not know whether the
income was received. At that time, we declined to conclude that
petitioners had conceded the issue, and we permitted them the
opportunity to offer evidence on the matter. Petitioners
presented no evidence relating to this issue at trial.
14The record is silent as to whether the value of the
Computerland prize determined by respondent in the notice of
deficiency was based on a Form 1099 or some other information and
whether the amount determined by respondent reflected the retail
value of the computer, the amount of store credit issued to
petitioner by Computerland, or something else.
Page: Previous 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 NextLast modified: May 25, 2011