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Amount
respondent
concedes
petitioner
Reported by petitioner substantiated
1995 1996 1997 for 1997
Other income:
Commissions $2,307 $7,326 $2,070
Gross income 2,307 7,326 2,070
Expenses:
Advertising 5,224 2,643 2,955 $2,955
Car and truck 918 1,530 1,861 1,861
Depreciation 507 348 318 -0-
Legal and - 50 - -
professional
services
Repairs and 70 - - -
maintenance
Supplies 265 357 315 -0-
Travel - 497 1,290 267
Meals and - 594 1,394 1,395
entertainment
Utilities 327 737 617 -0-
Other:
Business courses 126 473 409 -0-
Books 22 442 97 -0-
Subscriptions 62 206 522 -0-
Business education - 329 645 -0-
Distributorship/ 1,515 233 1,320 1,320
franchise fees
New product - 2,896 784 -0-
samples
Product testing 1,379 2,490 4,616 1,846
Total expenses 10,415 13,825 17,143 9,644
Net loss (8,108) (6,499) (15,073)
Petitioner untimely filed his return for 1997 on September
15, 1999. Petitioner reported on the Schedule C, Profit or Loss
From Business, he attached to that return that his principal
business and product or service was “Network Marketing: Personal
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Last modified: May 25, 2011