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Car and truck expenses $5,231
Depreciation and section 179 expense 1,268
Office expense 68
Repairs and maintenance 1,529
Travel 518
Meals and entertainment 101
Entry fees 2,261
Feed/hay 913
Vet/meds 2,513
Tack maintenance 2,053
Farrier 1,206
17,661
Petitioner failed to timely file a Federal income tax return
for 2001. Respondent prepared a substitute for return (SFR) for
2001. Respondent determined a deficiency in petitioner’s Federal
income tax and that petitioner is liable for additions to tax.
Petitioner had not yet filed a Federal income tax return for 2001
when the notice of deficiency was issued. Respondent had also
prepared SFRs for petitioner for 1999 and 2000. Respondent, in
preparing SFRs for petitioner, treated him as a single taxpayer.
On January 7, 2005, petitioner faxed to respondent an
unsigned joint Form 1040, U.S. Individual Income Tax Return, for
2001.4 Attached to the return were various schedules including:
(1) Schedule A, Itemized Deductions; (2) Schedule B, Interest and
Ordinary Dividends; and (3) two Schedules C, Profit or Loss From
Business. Respondent accepted all the items on the return except
for the ordinary loss of $15,920 claimed in connection with Mrs.
4The parties agree that petitioner should be treated as
filing a joint return with his wife for 2001.
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Last modified: May 25, 2011