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MEMORANDUM FINDINGS OF FACT AND OPINION
LARO, Judge: Petitioner petitioned the Court to redetermine
deficiencies of $7,191 and $6,040 in her 1997 and 1998 Federal
income taxes. Following petitioner’s concession as to a
procedural matter concerning the notice of deficiency, we are
left to decide as to those years whether petitioner’s activity of
breeding and showing horses (horse activity) was an “activity not
engaged in for profit” under section 183.2 We hold it was.
Unless otherwise indicated, section references are to the
applicable versions of the Internal Revenue Code, and Rule
references are to the Tax Court Rules of Practice and Procedure.
FINDINGS OF FACT
I. Background
Some facts were stipulated. We incorporate herein by this
reference the parties’ stipulation of facts and the exhibits
submitted therewith.3 Petitioner resided at 18500 Falling Water
Way, Riverside, California (Falling Water Way property), when her
2 As discussed herein, petitioner showed her horses at
various competitions. The parties use the term “showing”
interchangeably with the term “competing”, and so do we.
3 In addition to the stipulations, petitioner’s opening
brief asks the Court to take “judicial notice” of documents that
were filed in this case and statements made in prior Opinions of
this Court. We give those documents and statements proper
consideration without regard to “judicial notice” as that term is
used in Fed. R. Evid. 201.
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Last modified: May 25, 2011