Diep N. Hoang - Page 4

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               Petitioner has neither claimed nor shown that he satisfied             
          the requirements of section 7491(a)3 to shift the burden of proof           
          to respondent with regard to any factual issue.  Accordingly,               
          petitioner bears the burden of proof.  See Rule 142(a).                     
               Gross income includes all income from whatever source                  
          derived, including interest.  Sec. 61(a)(4).  Petitioner                    
          stipulated that during 2001 he received $2,301 of interest from             
          Bank One.                                                                   
               Petitioner relies on his own testimony to establish that a             
          portion of the interest he received in 2001 from Bank One is not            
          taxable.  We found petitioner’s testimony to be general, vague,             
          conclusory, and/or questionable in certain material respects.               
               Petitioner claims he earned only $241 in interest from Bank            
          One in 2001 because the total value of the CDs was $30,000 and              
          the annual interest rate was 7.7 percent.  Accordingly,                     
          petitioner conceded $241 of the $2,301 in interest determined by            
          respondent.  It is unclear, however, how petitioner calculated              
          the $241.  He claims he received interest for only 42 days, until           
          February 12, 2001 (the date the three CDs matured), in 2001, and            

               3  Unless otherwise indicated, all section references are to           
          the Internal Revenue Code in effect for the year in issue, and              
          all Rule references are to the Tax Court Rules of Practice and              

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