- 3 -
year 1999, petitioner received gambling winnings of $50,000 from
a game of blackjack he played at the Grand Victoria Casino.
Respondent received a Form W-2G, Certain Gambling Winnings,
for taxable year 1999 from Grand Victoria Casino reporting
gambling winnings paid to petitioner in the amount of $50,000.
From this Form W-2G, respondent determined that petitioner had
unreported income of $50,000 for taxable year 1999. Accordingly,
respondent issued petitioner a notice of deficiency for taxable
year 1999, in which respondent determined that petitioner had
unreported income of $50,000 and that he was liable for a tax
deficiency in the amount of $14,339.
At trial, petitioner claimed that he had documents and other
evidence to show that he suffered unreported gambling losses
equal to his gambling winnings. However, he did not possess this
evidence at the time of trial. The Court left the record open
and gave petitioner 30 days to present these documents and other
support to respondent. Petitioner did not avail himself of the
opportunity to submit this evidence, and on January 13, 2005, the
record in this case was closed.
Discussion
In general, the Commissioner’s determination set forth in a
notice of deficiency is presumed correct, and the taxpayer bears
the burden of showing that the determination is in error. Rule
142(a); Welch v. Helvering, 290 U.S. 111, 115 (1933). As one
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011