- 5 -
Similarly, petitioner did not attach to either of his returns an
election to expense property under section 179.5
C. Petitioner’s “Trade Missions” to Nigeria
On his Schedule C for 1999, petitioner claimed a deduction
for “trade mission” in the amount of $11,900. In this regard,
petitioner claims to have gone to Nigeria on a “trade mission”
from December 22, 1999, to January 7, 2000, and to have incurred
the following “general expenses”:
Item Amount
Air ticket $1,620
Excess luggage 875
Sealing tape 5
Yellow Cab taxi 65
ABC Transport to Owerri 150
Domino Paramount Hotel--3 days 225
Taxi to tourist guest house 45
Tourist guest house–-7 days 665
Hotel conference hall 570
Banners and signs 455
Publications and Supplies 1,650
Car rental with chauffeur--8 days 540
Gas/petrol 490
Radio advertisement 500
Lunch for the guests 1,950
Domino Paramount Hotel--4 days 300
Messengers--hired 5 people 750
Meal and entertainment 1,045
Total Expenses 11,900
The record does not include an itinerary, passenger receipt,
boarding passes, credit card receipt, or other documentary
evidence demonstrating that an airline ticket was purchased or,
5 A taxpayer wishing to expense property would typically
make the election using Part I, Election To Expense Certain
Tangible Property (Section 179), of Form 4562, Depreciation and
Amortization (Including Information on Listed Property).
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011