- 6 -
credits for KM, BW, and DD, as the qualifying children. Also,
petitioner attached to his 2000 Federal income tax return a
Schedule C. On his Schedule C, for taxable year 2000, petitioner
reported $9,250 of business income from the business. Petitioner
deducted $20,387 in business expenses, which resulted in a
reported business loss of $11,137. Petitioner’s Schedule C
business expenses were as follows:
Line 15 Insurance (other than health) $600
Line 20a Rent or lease (Vehicles, machinery and equipment) $8,340
Line 21 Repairs and maintenance $1,850
Line 22 Supplies $990
Line 23 Taxes and licenses $415
Line 25 Utilities $4,200
Line 27 Other expenses $3,992
Total $20,387
Furthermore, petitioner attached a Schedule A, Itemized
Deductions, to his 2000 Federal income tax return. On his 2000
Schedule A, petitioner claimed as follows, in pertinent part:
Itemized Deductions Amount
Line 5 State and local income taxes $2,553
Line 6 Real estate taxes 901
Line 7 Personal property taxes 792
Line 9 Total taxes 4,246
Line 10 Home mortgage interest and points 7,134
Line 15 Gifts to charity by cash 3,300
or check (Church)
Line 16 Other than by cash or check 250
Line 18 Total contributions to charity 3,550
Line 20 Unreimbursed employee expenses 2,750
Uniforms and cleaning $2,500
Shoes 250
Line 21 Tax preparation fees 125
Line 23 Total limited misc. expenses 2,875
Line 26 Net limited misc. deduction 2,237
Line 28 Total itemized deductions 17,167
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011