- 18 -
Other--Farm
(gross rcpts) 7,538 –- –- –- --
Rentals 215,026 1,000 –- –- --
Seismic Fees 700 –- –- –- --
1 Shown as $2,227.50 on Form 1040, line 8, plus $76.82 on line 22.
2 Shown as "estimated".
3 Shown as (a) "estimated--miscellaneous" $1,000, (b) witness fee $2,150, and
(c) attorney fees $10,297.50.
Schedule C Income
In the notice of deficiency, respondent determined that
petitioner failed to report $343,867 of Schedule C gross receipts
for 1982. Respondent has since conceded that this amount should
be $185,512. See supra note 2. Respondent determined this
unreported income by using the source and application of funds
method.
Table 4 shows, as to the components of the source and
application of funds method, (1) what petitioner reported on his
1982 tax return, (2) what respondent determined in the notice of
deficiency, (3) what respondent contends for on brief, and (4)
what the Court redetermined.
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