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would serve as a “forced savings account”; and (3) he did not
want the refunds for the years 2000 and 2001 because he thought
he would spend the tax refunds on gambling at the casinos. Mr.
Gagliardi “wanted to save that money for later when I run out of
money.”
Respondent determined that Mr. Gagliardi failed to report
$24,340, $270,052, and $4,521 of gambling income for 1999, 2000,
and 2001, respectively. The parties agree that respondent’s
aforementioned determinations for 1999 and 2000 should be reduced
by $21,732 to $2,608 for 1999 and by $53,785 to $216,267 for
2000. Petitioner did not contest, at trial or on brief,
respondent’s determination that he failed to report $4,521 of
gambling income for 2001. We conclude that petitioner has
conceded or abandoned this item. See Petzoldt v. Commissioner,
92 T.C. 661, 683 (1989); Money v. Commissioner, 89 T.C. 46, 48
(1987).
Respondent concedes that Mr. Gagliardi is entitled to
gambling loss deductions (i.e., that his casino losses exceeded
his casino winnings) of $2,181, $24,473, and $59,151 for 1999,
2000, and 2001, respectively.
ULTIMATE FINDINGS OF FACT
Mr. Gagliardi gambled on slot machines and lost at the
casinos (1) all of the money listed as withdrawals on the
gambling calendars--$366,455, $509,719, and $499,729 for 1999,
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