- 2 - Respondent determined a deficiency in petitioner's Federal income tax of $5,592 and an accuracy-related penalty under section 6662(a) of $1,118.40 for 1999. Petitioner agrees that he is not entitled to a dependency exemption deduction for his father. The issues remaining for decision are whether petitioner is entitled to: (a) A dependency exemption deduction for his mother; (b) head of household filing status; and (c) business expense deductions claimed on Schedule C, Profit or Loss From Business. Some of the facts have been stipulated and are so found. The stipulation of facts, supplemental stipulation of facts, and exhibits received in evidence are incorporated herein by reference. At the time the petition was filed, petitioner resided in Trevor, Wisconsin. Background On his 1999 Form 1040, U.S. Individual Income Tax Return, petitioner listed his occupation as "factory worker". He reported his filing status as head of household and claimed dependency exemption deductions for both his father and mother. He attached to the return a Schedule C in the name of "Daybreak IV Fishing LLC" for the activity of "Information Service for Fishing". Petitioner's mother and father filed a joint Federal income tax return for 1999. His father received total income for 1999Page: Previous 1 2 3 4 5 6 7 8 9 10 Next
Last modified: May 25, 2011