Joseph C. Minneman - Page 5

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         charitable contributions but in a total amount considerably less             
         than the standard deduction.  On the line for “Casualty and Theft            
         Losses”, petitioner wrote “-0-”.                                             
         C.  Petitioner’s Amended Return for 1989                                     
              In February 1991, petitioner filed Form 1040X, Amended U.S.             
         Individual Income Tax Return, for 1989 (the amended return).  On             
         the amended return, petitioner claimed a refund of $2,958 based              
         on:  (1) An alleged casualty or theft loss of personal-use                   
         property in the amount of $6,675 (before application of section              
         165(h)(1) or (2)(A)); and (2) an alleged casualty or theft loss              
         of business-use property in the amount of $15,156.  By way of                
         explanation, petitioner included the following statement on his              
         amended return:                                                              
              Taxpayer suffered uninsured theft and water damage                      
              casualty losses on personal property and business                       
              personal property that taxpayer was holding in storage                  
              due to lack of residential space and office space.                      
              Apparently landlord, his agents or previous tenants                     
              used a key to obtain entry and remove items and either                  
              landlord, his agents or tenants from the building the                   
              storage area was attached to used the roof for purposes                 
              not intended causing the roof to leak which caused                      
              heavy damage to taxpayer’s property stored in such                      
              building and landlord’s insurer would not pay for the                   
              To support his claim, petitioner attached Form 4684,                    
         Casualties and Thefts, to his amended return.  Form 4684 reveals             
         that petitioner computed the claimed losses in the following                 

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