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contributions, noncash charitable contributions, a casualty loss,
unreimbursed employee expenses, and other expenses, of $12,337,
$1,708, $9,079, $283, $922, $1,220, $4,341, $256, $1,051, and
$330, respectively.
Schedule C Items
On the Schedule C, petitioner described his business
activity as “consulting”, and he reported business expenses for
advertising, car and truck expenses, insurance, legal and
professional services, office expenses, supplies, taxes and
licenses, travel, meals and entertainment, and other expenses
totaling $21,530.
Schedule D Gains
The $4,939 of proceeds from sales of capital assets
petitioner reported on the Schedule D is the proceeds from his
sales of his interests in Oxford Health Plans (Oxford), Kemper
Growth Fund of Spain (Kemper), Ford Motor Co. (Ford), and
Citigroup, Inc. (Citigroup), for $3,406, $1,507, $19, and $7,
respectively. On the Schedule D, costs or other bases of $2,962
and $1,288 are ascribed to the sales of petitioner’s interests in
Oxford and Kemper, respectively, giving rise to reported gains on
those sales of $444 and $219, respectively. No bases are
ascribed to the sales of petitioner’s interests in Ford and
Citigroup, which were reported as giving rise to gains of $19 and
$7, respectively. All four sales were reported as sales of
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Last modified: May 25, 2011