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revised or completed by the IRS representative (revised returns).
For each year what is described as the original return and what
is described as the revised return is the same document; i.e.,
the Form 1040 signed by petitioners and filed with the IRS on
October 19, 1992:
Taxable Year 1990
Form W-2 $ 60,263.40
Forms 1099 83,262.91
Total Comp. $143,526.31
Original Return Revised Return
Wages 1 $144,707.23 $ 0.00
Interest 285.48 285.48
Business Income (45,472.50) 97,974.87
Total $ 99,520.21 $98,260.35
Adj. Gross Inc. 2 $ 99,519.98 $98,260.35
Sched. C
Gross Receipts $ 4 $143,437.37
Total Expenses 3 (45,472.50) (45,462.50)
Net Profit $ $ 97,974.87
1The record does not explain the source of this $144,707.23
figure that petitioner placed on the return.
2This figure is $.23 less than the above figure; there is no
explanation for this discrepancy.
3Petitioner partially filled out one Schedule C with the
total expenses as indicated here; the correct total of the
listed expenses is $45,462.50. On that Schedule C, gross
receipts was listed as $83,173.97 and net profit as
$37,711.47. It is uncertain who wrote in these figures.
The IRS representative completed a second Schedule C showing
gross receipts of $60,263.40 (the W-2 income) and zero
expenses. We note that the $83,173.97 is exactly $88.94
less than the nonemployee compensation shown on the Forms
1099 attached to the return as filed with the IRS.
4This figure represents the combined gross receipts on the
two Schedules C: $60,263.40 of W-2 wage income and
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