- 45 -
(1) 1992
Allowed
Expense Claimed Documented per Cohan Disallowed
Insurance $9,200 -0- $6,140 $3,060
Legal/prof. 1,400 -0- -0- 1,400
Repairs 2,700 -0- -0- 2,700
Taxes/
licenses 4,837 -0- 4,837 -0-
(2) 1993
Allowed
Expense Claimed Documented per Cohan Disallowed
Insurance $11,200 $6,140 -0- $5,060
Legal/prof. 5,000 -0- -0- 5,000
Repairs 4,964 -0- -0- 4,964
Taxes/
licenses 4,191 -0- $4,191 -0-
Utilities 271 -0- 271 -0-
Alarm sys. 300 -0- -0- 300
Appraisals 3,000 -0- -0- 3,000
Locksmith 53 -0- -0- 53
Permits 275 -0- -0- 275
Consistent with respondent’s concession, we hold that 25 percent
of the allowable Schedule C expenses is allocable to petitioner’s
rental activity with respect to the 5401-9 S. Broadway property
and is deductible as Schedule E expenses pursuant to section
212(2), subject to the passive loss limitation of section 469.
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