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not expense the cost of Robco’s power tools.
Mr. Goode testified that $1,820, the amount petitioners
claimed as a deduction, was his conservative estimate of the cost
of several power tools Robco acquired during 2002, which ranged in
price from $2 to $300. In view of the nature of Robco’s
activities, and because we find Mr. Goode’s testimony in this
regard credible, we hold that petitioners expended $1,820 for the
acquisition of power tools in 2002 and are therefore entitled to
an appropriate depreciation deduction with respect to that
acquisition. The parties shall determine the exact amount of the
depreciation deduction to which petitioners are entitled in their
Rule 155 computations.
To reflect the foregoing,
Decision will be entered
for petitioners in docket
No. 4802-06S.
Decision will be entered
under Rule 155 in docket No.
9978-05S.
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Last modified: November 10, 2007