Fatai O. and Mary King, (1999)

Docket Number: 10781-98

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Fatai O. and Mary King, (1999)

T.C. Memo. 1999-293

UNITED STATES TAX COURT FATAI O. AND MARY KING, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 10781-98. Filed September 1, 1999.

Fatai O. and Mary King, pro se. Carol-Lynn E. Moran, for respondent.

MEMORANDUM FINDINGS OF FACT AND OPINION RUWE, Judge: Respondent determined a deficiency of $11,450 in petitioners' 1994 Federal income tax and an accuracy-related penalty pursuant to section 6662(a)1 of $2,290. The notice of deficiency was based on petitioners' joint amended 1994 income tax return filed on December 6, 1996.

The issues for decision are: (1) Whether petitioners are entitled to the following deductions claimed on Schedule C: Robbery from PNC Bank, $9,540; lottery shortage, $11,744; car and truck, $3,120; repairs and maintenance, $4,944; (2) whether petitioners had unreported gross income of $11,667 from the sale of a newsstand and unreported interest income of $227; and (3) whether petitioners are liable for the accuracy-related penalty under section 6662(a).

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