- 2 -
Respondent determined a deficiency in petitioner’s Federal
income tax of $11,493 for the taxable year 2000, as well as an
accuracy-related penalty under section 6662(a) in the amount of
$711.
After petitioner’s concessions,2 the remaining issues for
decision are:
(1) Whether petitioner received unreported business and
rental income. We hold that he did to the extent provided
herein.
(2) Whether petitioner is entitled to claim various
Schedule C and Schedule E deductions. We hold that he is not.
(3) Whether petitioner is entitled to claim various
itemized deductions for state and local taxes. We hold that he
is not.
(4) Whether petitioner is entitled to claim a personal
casualty or theft loss of $7,283. We hold that he is not.
(5) Whether petitioner is liable for the accuracy-related
penalty under section 6662(a). We hold that he is.
2 At trial and in the stipulation of facts, petitioner
conceded the adjustments in the notice of deficiency;
specifically, that he received unreported income in the following
amounts: (1) Wages of $51,824; (2) interest of $54; and (3)
rental income in the amounts of $2,380 and $642, for a total of
$3,022.
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