- 7 - JRC Rent $45,441 Marketing 41,335 Professional fees 16,008 Auto rental and expenses 20,893 Total 123,677 RSC Rent $82,252 New York apartment tax 3,121 Lodging 8,419 Professional fees 18,037 Transportation 24,905 Travel 20,929 Marketing 141,707 Management, staff, and 192,500 administration Interest 36,392 Total 528,262 Respondent asked petitioner to substantiate the deductions that flowed through from JRC and RSC to his delinquent Form 1040 for 2001. Petitioner did not do so. Respondent filed an amendment to answer. In it, respondent asserts that petitioner’s 2001 deficiency and additions to tax were larger than respondent had determined in the notice of deficiency on the basis of the amount of income first reported to respondent in the Form 1040 petitioner had faxed to respondent. Respondent also asserted in the answer that, although requested to do so by respondent, petitioner did not provide documents substantiating any deductions for 2001.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next
Last modified: May 25, 2011