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received payments from Pacific totaling $7,050 for the taxable
year 2001.
Petitioner delinquently filed his taxable year 2000 Form
1040, U.S. Individual Income Tax Return, on April 19, 2002.2
Petitioner timely filed his taxable year 2001 Form 1040 on April
15, 2002.
Petitioner attached to his 2000 Federal income tax return a
Schedule C. On his Schedule C for taxable year 2000, petitioner
listed as his principal business or profession: “Truck Lease”.
Petitioner reported $3,3753 of business income on his Schedule C
for taxable year 2000 and deducted $16,059 in business expenses.
This resulted in a reported business loss in the amount of
$12,684. Petitioner’s Schedule C business expenses were as
follows:
Line 10 Car and truck expenses $12,757
Line 16b Interest: Other (Auto loan) 230
Line 21 Repairs and maintenance 2,892
Line 23 Taxes and licenses 45
Line 27 Other expenses 135
Line 28 Total expenses $16,059
Petitioner attached to his 2001 Federal income tax return a
Schedule C. On his Schedule C for taxable year 2001 petitioner
2As previously noted, petitioner stipulated that his Form
1040 for taxable year 2000 was filed delinquently and conceded
the addition to tax of $654 pursuant to sec. 6651(a).
3This amount represents the payments received by petitioner
from Pacific for the use of his personal vehicle in furtherance
of Pacific’s business.
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Last modified: May 25, 2011