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1985
Casino chips $13,100.00
Tractor trailer 2,000.00
Automobile repairs 969.21
Automobile insurance 859.00
Route 21 property 45,000.00
61,928.21
1986
Casino chips $10,700.00
Automobile repairs 11,149.32
Chevy pickup (deposit) 500.00
1981 BMW (deposit) 500.00
22,849.32
Petitioner paid $493.98 toward an auto body repair bill
using third-party checks. He also cashed third-party checks at a
grocery store in Bridgeport, Connecticut.
Gambling Activities
Petitioner gambled at Tropworld in Atlantic City, New
Jersey, in 1985 and 1986. Petitioner purchased casino chips on
May 19, 1985, in the amount of $13,100 and on November 29, 1986,
in the amount of $10,700. Tropworld filed a Currency Transaction
Report by Casinos, Form 8362 (CTR), with the IRS for each of
these purchases.
Tropworld maintained a List Accounts Detail Ratings (List
Account) which showed that petitioner purchased casino chips on
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Last modified: May 25, 2011