Don M. Ticinovich - Page 3




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          August 29, 2005, respondent issued to petitioner a notice of                
          deficiency that, among other things, adjusted petitioner’s                  
          distributive share of Great American’s net loss for 2002.                   
               On November 21, 2005, petitioner’s petition for a                      
          redetermination of deficiencies for 2002 and 2003 was filed.                
          Petitioner alleged that respondent improperly denied auto/truck,            
          amortization, and bad debt expenses claimed by Great American for           
          2002 and all other expenses claimed in 2003.  The petition did              
          not raise Great American’s 2002 tentative section 179 deduction             
          that Great American had carried over to 2003.  On December 29,              
          2005, respondent’s answer was filed.  This case was calendered              
          for trial on February 5, 2007, in Los Angeles, California.                  
               On February 5, 2007, counsel for respondent appeared at the            
          calendar call, announced that the parties had reached a                     
          settlement, and lodged a copy of a fully executed stipulation of            
          agreed issues (stipulation).  Neither petitioner nor a                      
          representative for petitioner appeared at the calendar call.                
               As pertinent to the issue before us, the stipulation states            
          as follows:                                                                 
                    The parties agree that the adjustments set forth                  
               in the Notice of Deficiency * * * are settled as                       
               follows:                                                               
                    1.   Sch. E Inc/Loss-Partnership/S-Corp adjustment                
               of $29,264 for the 2002 year - Petitioner concedes                     
               $20,362; respondent concedes $8,902.                                   








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