- 5 -
research business. Petitioners included the IIEM wages of
$6,272.50 in the $6,610 reported as gross income on the ARA
Schedule C.
Petitioners deducted various business expenses totaling
$38,557. They claimed car expenses of $26,075 based on the
number of miles petitioner traveled in 1999 using the same car
for commuting from his residence to Eli Lilly and traveling to
IIEM and to the university. According to the service book for
petitioner's car, petitioner traveled a total of 25,657 miles.
On Form 4562, Depreciation and Amortization, petitioners claimed
that he used the car 100 percent for business and that he
traveled 60,000 miles in 1999.
Petitioners deducted $2,100 for insurance premiums
petitioner says he paid for the car he used for travel in 1999.
Petitioner did not provide any records to substantiate these
expenditures.
Petitioners deducted $450 for fees petitioner says he paid
to an attorney to review his employment contract with IIEM. He
does not have a bill from the attorney nor any record of the
payment.
Petitioners deducted $2,800 for office expenses on the 1999
Schedule C for ARA. Petitioner cannot recall how he calculated
the amount of $2,800 and did not present any records to
substantiate that amount.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011