- 7 - 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-Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 NextLast modified: November 10, 2007