Paul D. and Gudrun G. Weaver - Page 1

                                T.C. Memo.  2004-108                                  

                               UNITED STATES TAX COURT                                

                    PAUL D. AND GUDRUN G. WEAVER, Petitioners v.                      
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket No. 14883-02.            Filed May 3, 2004.                     

                    Petitioners included with their 1998 Federal                      
               income tax return a Schedule C, Profit or Loss From                    
               Business, for “Shrike Cars”.  The Schedule C reflected                 
               a net loss of $448,120, which respondent disallowed on                 
               grounds that the costs associated with Shrike Cars were                
               startup expenditures within the meaning of sec. 195,                   
                    Held:  Petitioners are not entitled to reduce                     
               their 1998 gross income by the $448,120 claimed net                    
               loss derived from the Shrike Cars enterprise.                          
                    Held, further, petitioners are liable for the sec.                
               6651(a)(1), I.R.C., addition to tax for failure timely                 
               to file their 1998 income tax return.                                  

               Paul D. and Gudrun G. Weaver, pro sese.                                
               Michael J. Proto, for respondent.                                      

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