- 12 - Other income, including Federal and 405 State gasoline or fuel tax credit or refund On his income tax returns for 1990, 1991, and 1992, petitioner claimed expenses on Schedules F as follows: 1990 1991 1992 Fertilizers & lime $6,124 $7,980 $7,260 Gasoline, fuel & oil 2,640 2,875 3,251 Insurance 859 1,025 825 Repairs & maintenance 937 4,545 1,987 Seeds & plants 1,661 1,235 1,359 Supplies 879 1,462 1,162 Custom hire 2,565 2,990 2,540 (Machine Work) Other expenses 954 196 104 Depreciation 7,871 5,622 4,016 Mortgage interest 11,575 10,670 -- Utilities -- -- 4,470 Taxes 1,348 1,226 891 Total 37,413 39,826 27,865 Petitioner reported net farming losses of $7,600 in 1989, $15,460 in 1990, $25,757 in 1991, and $7,595 in 1992. After concessions, respondent agrees that petitioner incurred allowable farm expenses in 1990, 1991, and 1992 as follows:9 1990 1991 1992 Feed $32,947 $25,123 $18,403 Fertilizers & lime 188 1,850 4,508 Gasoline, fuel & oil 2,544 713 2,060 Insurance 504 504 504 Repairs & maintenance 762 368 148 Straw 240 -- 3,208 Veterinary 207 -- -- Seeds & plants 540 -- 1,062 9 These allowable expenses are in addition to the Best Ever Dairy, Rochester Sale Barn, and Stony Pike expenses netted against income.Page: Previous 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Next
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