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For the reasons stated below, we shall deny petitioner’s motion
to vacate.
Background
On November 13, 2003, respondent issued a notice of
deficiency to petitioner that determined a deficiency in
petitioner’s 2000 Federal income tax and a penalty under section
6662(a). On February 17, 2004, petitioner timely filed a
petition with the Court disputing respondent’s determination.
At the time he filed the petition, petitioner resided in San
Francisco, California.
This case was calendared for trial at the Court’s trial
session in San Francisco, California, that began on November 29,
2004. When the case was called from the calendar on December 3,
2004, the parties informed the Court that a basis of settlement
with respect to all issues had been reached. In the stipulation
of settlement submitted to the Court on December 3, 2004, the
parties stipulated as follows:
1. Petitioner and respondent agree that
petitioner should not have reported dependent’s W-2
income of $4,589.00 on his tax return for taxable year
2000.
2. Respondent concedes that petitioner does not
have to include in taxable income the $23,242.00 that
was reported on the Form 1099-MISC issued by Robert
Leslie in taxable year 2000.
3. Respondent concedes that petitioner may
deduct, as car and truck expenses, $2,925.00 of the
$4,560.00 of claimed deductions that petitioner
erroneously listed as mortgage expenses on his 2000 tax
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