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In Schedule E, Supplemental Income and Loss (Schedule E),
included as part of petitioners’ 2000 return (2000 Schedule E),
petitioners showed total rents received of $16,490 and claimed
total expenses of $61,654 and total losses of $45,164. An
attachment to that schedule showed, inter alia, the following
items which, when totaled and rounded to the nearest dollar,
equal the total expenses of $61,654 claimed in the 2000 Schedule
E:
$39,545.86 expenses
$ 4,427.94 Taxes
$17,680.50 Credit card Visa
$61,654.30
Schedule E included as part of petitioners’ 2001 return
(2001 Schedule E) contained no entries. However, an attachment
to that schedule (attachment to the 2001 Schedule E) showed,
inter alia, total rental income of $14,000 and total expenses of
$89,542.
Another attachment to the 2001 Schedule E (second attachment
to 2001 Schedule E) showed the following items which, when
totaled and rounded to the nearest dollar, equal the total
expenses of $89,542 shown in the attachment to the 2001 Schedule
E:
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Last modified: November 10, 2007