- 6 -
satisfy the requirements of not only section 162(a) but also
section 274(d). To the extent that petitioner carries his burden
of showing that the expenses at issue for the use of his automo-
bile and for meals satisfy the requirements of section 162(a) but
fails to satisfy his burden of showing that such expenses satisfy
the recordkeeping requirements of section 274(d), petitioner will
have failed to carry his burden of establishing that he is
entitled to deduct such expenses, regardless of any equities
involved. See sec. 274(d); sec. 1.274-5T(a), Temporary Income
Tax Regs., 50 Fed. Reg. 46014 (Nov. 6, 1985).
The recordkeeping requirements of section 274(d) will
preclude petitioner from deducting amounts otherwise allowable
under section 162(a) with respect to the use of his automobile or
expenditures for meals while traveling away from home on business
unless he substantiates the requisite elements of each such use
or expenditure. See sec. 274(d); sec. 1.274-5T(b)(1), Temporary
Income Tax Regs., 50 Fed. Reg. 46014 (Nov. 6, 1985). A taxpayer
is required to
substantiate each element of an expenditure or use
* * * by adequate records or by sufficient evidence
corroborating his own statement. Section 274(d) con-
templates that a taxpayer will maintain and produce
such substantiation as will constitute proof of each
expenditure or use referred to in section 274. Written
evidence has considerably more probative value than
oral evidence alone. In addition, the probative value
of written evidence is greater the closer in time it
relates to the expenditure or use. A contemporaneous
log is not required, but a record of the elements of an
expenditure or of a business use of listed property
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next
Last modified: May 25, 2011