- 8 -
taxpayer. See Sanford v. Commissioner, 50 T.C. 823, 827 (1968),
affd. per curiam 412 F.2d 201 (2d Cir. 1969); Golden v.
Commissioner, T.C. Memo. 1993-602; sec. 1.274-5T(a), Temporary
Income Tax Regs., 50 Fed. Reg. 46014 (Nov. 6, 1985). “Listed
property” is defined to include a passenger automobile. Sec.
280F(d)(4)(A)(i).
In order to be allowed a deduction with respect to listed
property, the taxpayer must substantiate the deduction by
adequate records, or by sufficient evidence corroborating the
taxpayer’s own statement, showing: (1) The amount of such expense
or other item; (2) the time and place of the use of the property;
and (3) the business purpose of the expense or other item. See
sec. 274(d); see also sec. 1.274-5T(b)(6), Temporary Income Tax
Regs., 50 Fed. Reg. 46016 (Nov. 6, 1985) (regarding the requisite
elements to be substantiated with respect to any listed
property); sec. 1.274-5T(c), Temporary Income Tax Regs., 50 Fed.
Reg. 46016 (Nov. 6, 1985) (regarding the specific rules of
substantiation).
In view of the foregoing, we sustain respondent’s
determination and hold that petitioner is not entitled to any
deduction for depreciation on his automobile.8
8 The record demonstrates that petitioner may also not be
entitled to the other automobile-related deduction ($2,048) that
he claimed on Schedule C. See sec. 274(d)(4). However,
respondent did not disallow this deduction in the notice of
(continued...)
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