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third party documents, as follows:
Source 1990 1991
Diversified 10, Inc. -
Doyle's wages $2,400 $1,000
Union Safe Deposit Bank
interest 260 20
Stockton Savings Bank
interest 91 22
U.S. Treasury 697
King & Anderson Partnership 7,051
Delta valley Realty -
Yvonne's non-employee
compensation 111,855
Phoenix International Marketing
Corporation 1,998
Respondent concedes that neither Doyle or Yvonne received
$8,000 in rental income for 1991, and that petitioners are
entitled to a $6 deduction in 1991 for early interest withdrawal
penalty.
Doyle had a net loss of $12,610 from his Matol business in
1990. Doyle had discontinued his involvement with the Matol
business by 1991, so is entitled to no loss deduction for that
year.
Doyle is liable for 1990 self-employment tax based upon his
net self-employment income from his Delta Valley Realty
business, reduced by a net loss of $12,610 from his Matol
business.
Doyle is liable for 1991 self-employment tax based upon his
net self-employment income from his Delta Valley Realty
business.
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