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Petitioner timely filed his Federal income tax return for
the 2001 taxable year. On Form 1040, U.S. Individual Income Tax
Return, for taxable year 2001, petitioner reported capital gain
income of $1,663.13. Petitioner did not report any other income.
Petitioner also claimed a personal exemption and the standard
deduction. Petitioner did not attach a Schedule A, Itemized
Deductions, to his Form 1040.
During taxable year 2001, petitioner was retired.
Petitioner gambled at Harrah’s Cherokee Smokey Mountain Casino
(Cherokee Casino), and during taxable year 2001, petitioner
received gambling winnings of $44,833 from Cherokee Casino.
Both petitioner and respondent received seven Forms W-2G,
Certain Gambling Winnings, for taxable year 2001, all seven of
which were from Cherokee Casino in the amounts of $16,000,
$2,500, $4,000, $4,000, $4,500, $12,583, and $1,250, for a total
of $44,833. Petitioner attached these Forms W-2G to his 2001
Form 1040, but, as previously stated, he did not report the
amounts as gross income. From these Forms W-2G, respondent
determined that petitioner had unreported gambling income of
$44,833 for taxable year 2001.
Accordingly, in the notice of deficiency for taxable year
2001, dated November 3, 2003, respondent determined that
petitioner must include gambling winnings in the amount of
$44,833 in his gross income. Respondent also determined that
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