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Respondent determined a deficiency in petitioner’s Federal
income tax of $14,339 for the taxable year 1999.
The issues for decision are: (1) Whether petitioner
received and failed to report gambling income in the amount of
$50,000 in taxable year 1999; and (2) in the event petitioner had
gambling income in the amount of $50,000, whether petitioner had
gambling losses in taxable year 1999 to offset any of this
income.
Background
Some of the facts have been stipulated and are so found.
The stipulation of facts and the attached exhibits are
incorporated herein by this reference. Petitioner resided in
Chicago, Illinois, on the date the petition was filed in this
case.
Petitioner timely filed his Federal income tax return
electronically for the 1999 taxable year. On Form 1040, U.S.
Individual Income Tax Return, for taxable year 1999, petitioner
reported $32,412 in wage income. Petitioner did not report any
other income.
During tax year 1999, petitioner was employed full time as a
“delivery driver” by Coca-Cola. Petitioner gambled at two
casinos during taxable year 1999: the Grand Victoria Casino and
Hollywood Casino-Aurora, Inc. (Hollywood Casino). During taxable
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