Thomas C. Pride, Sr. - Page 3

                                        - 2 -                                         
          effect for the year in issue, and all Rule references are to the            
          Tax Court Rules of Practice and Procedure.                                  
               Respondent determined a deficiency in petitioner’s Federal             
          income tax of $405.11 for the taxable year 1999.                            
               The issues for decision are:  (1) Whether petitioner is                
          entitled to various itemized deductions disallowed by respondent,           
          and (2) whether petitioner received unreported interest income.             
               Some of the facts have been stipulated and are so found.               
          The stipulations of fact and the attached exhibits are                      
          incorporated herein by this reference.  Petitioner resided in               
          Charlotte, North Carolina, on the date the petition was filed in            
          this case.                                                                  
               On petitioner’s Federal income tax return for taxable year             
          1999, petitioner reported adjusted gross income of $40,414 and              
          claimed total itemized deductions of $15,294.  In the statutory             
          notice of deficiency, respondent disallowed the following                   
          portions of the itemized deductions claimed by petitioner on his            
          return:                                                                     
               Claimed   Disallowed                                                   
               Mortgage interest              $6,717     $1,023                       
               Charitable contributions        3,524        250                       
               Employee business expenses      1,423      1,423                       
          The employee business expense deduction claimed on the return is            
          for expenses of $2,231 reduced pursuant to the section 67(a)                
          limitation on miscellaneous itemized deductions.  Respondent also           






Page:  Previous  1  2  3  4  5  6  7  8  Next

Last modified: May 25, 2011