Pieter Weyts - Page 11




                                       - 11 -                                         
          language and purpose of recordkeeping for contributions in excess           
          of $250.  We find that petitioner is not entitled to a charitable           
          contribution deduction.                                                     
          Education Loan Interest Deduction Under Section 221                         
               Deductions are a matter of legislative grace, and the                  
          taxpayer bears the burden of proving the entitlement to any                 
          deduction claimed.  See Rule 142(a); INDOPCO, Inc. v.                       
          Commissioner, 503 U.S. 79, 84 (1992).  A taxpayer is required to            
          maintain records sufficient to establish the amount of his or her           
          income and deductions.  Sec. 6001; sec. 1.6001-1(a), (e), Income            
          Tax Regs.                                                                   
               Section 221(a) provides that a deduction is allowed for an             
          amount equal “to the interest paid by the taxpayer * * * on any             
          qualified education loan.”  Section 221(d) defines a “qualified             
          education loan” as “any indebtedness incurred by the taxpayer               
          solely to pay qualified higher education expenses”.                         
               The only documentary evidence concerning the alleged                   
          educational loan is a letter from the Cooperative Rabobank West-            
          Zeeuws-Vlaanderen U.A. addressed to P.A.E.L. Weyts (we assume               
          petitioner) in Brugge, Belgium, stating that the interest paid on           
          the “mortgage loan” in 2000 was EURO 6,197.28 and that the                  
          balance of the loan as of January 1, 2001, was EURO 123,946.28.             
          The record does not include the loan agreement or any documentary           
          evidence of when and how, if at all, petitioner paid the                    






Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  Next

Last modified: May 25, 2011