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Respondent determined deficiencies in petitioner’s Federal
income taxes of $5,926.00, $7,816.65, and $5,336.00 for the
taxable years 2000, 2001, and 2002, respectively.
After concessions,1 the issues for decision are: (1)
Whether petitioner is entitled to claim the dependency exemption
deduction for DD for tax years 2000, 2001, and 2002; (2) whether
petitioner is entitled to a child tax credit with DD as the
qualifying child for tax years 2000, 2001, and 2002; (3) whether
petitioner is entitled to claim Schedule C expenses for the 2000,
2001, and 2002 tax years; (4) whether petitioner is entitled to
miscellaneous itemized deductions for the 2000 tax year;2 and (5)
whether petitioner failed to report interest income for tax years
2000 and 2001.
Background
Some of the facts have been stipulated and are so found.
The stipulation of facts and the attached exhibits are
1Petitioner listed KM, BW, and DD (the Court uses only the
minor child’s initials) as dependents on his tax returns for the
taxable years 2000, 2001, and 2002. In the notice of deficiency,
respondent disallowed petitioner’s claimed dependency exemption
deductions and related child tax credits for KM, BW, and DD.
However, at trial, respondent conceded that petitioner was
entitled to the dependency exemption deductions and related child
tax credits for KM and BW for the taxable years 2000, 2001, and
2002.
2Respondent also adjusted petitioner’s miscellaneous
itemized deductions for 2002. The amount of deductions, with
respect to taxable year 2002, to which petitioner is entitled is
a computational matter, which will be decided based on the
Court’s resolution of the issues in this case.
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