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Cohan v. Commissioner, 39 F.2d 540, 543-544 (2d Cir. 1930). We
cannot estimate a deductible expense, however, unless the
taxpayer presents evidence sufficient to provide some basis upon
which an estimate may be made. Vanicek v. Commissioner, 85 T.C.
731, 743 (1985). Furthermore, section 274(d) supersedes the
Cohan doctrine and prohibits estimating certain expenses.
Sanford v. Commissioner, 50 T.C. 823, 827 (1968), affd. 412 F.2d
201 (2d Cir. 1969). That section provides that, unless the
taxpayer complies with certain strict substantiation rules, no
deduction is allowable (1) for travel expenses, (2) for
entertainment expenses, (3) for expenses for gifts, or (4) with
respect to listed property. Listed property includes passenger
automobiles and other property used as a means of transportation.
Sec. 280F(d)(4). To meet the strict substantiation requirements,
the taxpayer must substantiate the amount, time, place, and
business purpose of the expenses. Sec. 274(d); sec. 1.274-5T,
Temporary Income Tax Regs., 50 Fed. Reg. 46014 (Nov. 6, 1985).
With respect to the travel expenses, petitioners provided a
summary document prepared in 1996 or 1997 listing various
destinations and lengths of stay during 1995. This document was
not prepared contemporaneously with the travel and does not meet
the section 274(d) requirement that business purpose be
documented.
With respect to the legal fees, petitioners provided a
summary document from the office of petitioners’ counsel
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