- 14 -
Supplies
Petitioners claimed a $143 deduction for supplies. To
substantiate this item, petitioners submitted two Visa credit
card statements. The statements indicate petitioners made
purchases at Aaron Brothers, Office Max, and The Container Store
in May and November of 2002; the spreadsheets petitioner prepared
indicate that these expenses were incurred for frames, notebooks,
pens, and “items”. The relationship of these expenses to
petitioner’s real estate activity was not established.
Petitioners also claim that they paid cash for some supplies, but
they did not present any receipts or canceled checks to support
these expenses.
On the basis of the submitted Visa credit card statements,
it is clear that petitioners made purchases at stores that sell
office supplies. There is no evidence, however, other than
petitioner’s self-serving testimony, which we do not find
probative, that these expenses were related to or incurred in
connection with petitioner’s real estate activity. Without
further substantiating evidence, the Court sustains respondent’s
determination disallowing such expenses.
8(...continued)
evidence to satisfy the heightened substantiation requirements
associated with listed property.
Page: Previous 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Next
Last modified: November 10, 2007