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Respondent determined a deficiency in petitioner's 2000
Federal income tax of $12,915, an addition to tax of $646 under
section 6651(a)(1), and an accuracy-related penalty of $2,583
under section 6662(a).
The parties agree that petitioner received miscellaneous
income of $45,548 from B & D Stone Property Management, Inc., and
$189 in interest income from Community Guaranty Savings. The
parties further agree that petitioner is entitled to deduct on
Schedule A, Itemized Deductions, medical expenses of $1,731.50,
taxes of $1,879.05, and interest of $1,297.63. And the parties
agree that petitioner is entitled to deduct on Schedule C, Profit
or Loss From Business, insurance of $377, taxes and license fees
of $128.20, repairs and maintenance expenses of $104.73, and
supplies expenses of $18,129.19.
The issues remaining for decision are whether petitioner is:
(1) Entitled to any deductions in excess of those agreed to by
respondent; (2) liable for the addition to tax under section
6651(a)(1); and (3) liable for the accuracy-related penalty under
section 6662.
Some of the facts have been stipulated and are so found.
The stipulation of facts and the exhibits received in evidence
are incorporated herein by reference. At the time the petition
was filed, petitioner resided in Plymouth, New Hampshire.
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