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Yvonne is liable for 1990 self-employment tax based upon
her net self-employment income from her Yvonne King Real
Estate Sales & Service business. She is also liable for 1991
self-employment tax based upon her net self-employment income
from that business.
Doyle is entitled to self-employment tax deductions for
1990 and 1991 under section 164(f) in amounts equal to one-
half of his self-employment income from Delta Valley Realty in
those years. Yvonne is entitled to self-employment tax
deductions for 1990 and 1991 under section 164(f) in amounts
equal to one-half of her self-employment tax for those years.
Petitioners are entitled to itemized deductions in 1990 of
$9,739, which amount is mortgage interest of $12,777 less $3,038
of mortgage interest allowed on Doyle's 1990 Schedule C for
Delta Valley Realty.
Petitioners are entitled to itemized deductions in 1991 of
12,049, which amount is mortgage interest of $15,215 less $3,166
of mortgage interest allowed on Doyle's 1991 Schedule C for
Delta Valley Realty, and the $6 interest penalty referred
to above.
Petitioners made payments towards their 1990 tax liability
of $6,842, which consists of an estimated tax payment on April
15, 1990, of $6,659, plus a withholding tax credit of $183,
based upon Doyle's wages from Diversified 10, Inc. Petitioners
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