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claimed total expenses of $2,948 consisting of $1,498 for “Depre-
ciation and section 179 expense deduction” with respect to the
Dodge van, $1,110 for “Insurance”, and $340 for “Other expenses”.
Under “Other Expenses”, petitioners claimed $240 for “BANK
CHARGES”, $50 for “GASOLINE”, and $50 for “INSPECTION & TUNE UP”.
In the 2002 Schedule C, petitioners claimed a net loss of
$15,232. In determining the taxable income reported in their
2002 return, petitioners deducted that net loss.
In the 2003 Schedule C, petitioners claimed gross receipts
or sales of $1,372, cost of goods sold of $6,686, and a negative
gross income of $5,314. In that schedule, petitioners also
claimed total expenses of $2,310 consisting of $898 for “Depreci-
ation and section 179 expense deduction” with respect to the
Dodge van, $980 for “Insurance”, and $432 for “Other expenses”.
Under “Other Expenses”, petitioners claimed $262 for “BANK
CHARGES”, $50 for “GASOLINE”, $50 for “INSPECTION & TUNE UP”, and
$70 for “REGISTRATION 140 TWO YRS”. In the 2003 Schedule C,
petitioners claimed a net loss of $7,624. In determining the
taxable income reported in their 2003 return, petitioners de-
ducted that net loss.
In the 2004 Schedule C, petitioners claimed gross receipts
or sales of $200, cost of goods sold of $3,570, and a negative
gross income of $3,370. In that schedule, petitioners also
claimed total expenses of $3,013 consisting of $898 for “Depreci-
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Last modified: November 10, 2007