- 24 -
Petitioner and Ms. Pope prepared annual business plans for
the years 1989 through 1994 and one undated general business
plan. These plans were on fill-in-the-blank forms with hand-
written responses. In each plan, petitioner listed as a long-
term goal to sell horses. In her 1991 through 1994 plans,
petitioner stated that her goal was to move her horse activity to
Gavilan Hills.
While petitioner had business plans for previous years, she
had no business plans for the years in issue. Petitioner
introduced no evidence that she referred to the business plans
during the years in issue. Despite petitioner’s stated goal of
selling horses, petitioner sold only one horse in 2001, 7 years
after the last business plan was prepared. Despite petitioner’s
stated goal of moving her horse activity to Gavilan Hills, from
1991 through the years in issue petitioner took no meaningful
steps to make the property suitable for accommodating the
activity. We find that no positive inference can be drawn from
petitioner’s business plans.
Petitioner continually asserts that she is in the business
of breeding and selling horses and intends to make a profit.
Since 1989, petitioner has bred only Borissa. In that time,
Borissa’s 1990 foal died in 1991, she was not bred from 1992
through 1996, her 1998 foal died at birth, and she was not able
to conceive by artificial insemination in 1999. In 15 years,
Page: Previous 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 NextLast modified: May 25, 2011