- 12 - The “receipts” were contemporaneously created by petitioners on forms provided by the charities without specification of the items donated at the time that the donations were made. Respondent argues that these receipts are inadequate because they do not show the original cost, age, or condition of the donated items. Petitioner was unable to cure any defects in the documentation by his testimony. Petitioners’ claimed deductions of $680 in 1996 and $1,394 in 1997 for the donated items. However, the lists of items for 1997 total only $891. We conclude that the self-generated “receipts” are unreliable. Petitioners are not entitled to deductions for noncash charitable contributions in excess of the amounts already allowed by respondent. Rental Property Expenses Petitioners claimed deductions in excess of the amount allowed by respondent for expenses attributable to the condominium that they held for rental purposes in 1996. Respondent conceded that petitioners are entitled to deductions equal to $4,411 for rental property expenses. For the remainder of the alleged expenses, petitioners either failed to produce receipts and records to substantiate their claims or petitioners produced receipts that appear to relate to petitioners’ private residence rather than to the condominium.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Next
Last modified: May 25, 2011