- 15 -- 15 - In their 1989 return, petitioners reported total income of $24,034 consisting of the following: Wages and salaries $4,8166 Interest 365 Business income 17,203 Capital gain 71 Ordinary gain 1,579 In Schedule C of their 1989 return, petitioners reported $465,400 of gross receipts, $448,197 of expenses, and $17,203 of profit from the operations of petitioner's sole proprietorship Charles Harp Construction that they described therein as a general contracting business. Petitioners did not report in Schedule C, or elsewhere, in their return for that year income from any business other than Charles Harp Construction. In their 1990 return, petitioners reported total income of $42,326 consisting of the following: Wages and salaries $34,7547 Interest 711 Business income 6,861 In Schedule C of their 1990 return, petitioners reported $195,300 of gross receipts, $188,439 of expenses, and $6,861 of profit from the operations of petitioner's sole proprietorship Charles Harp Construction that they described therein as a 6 The amount of wages and salaries reported in petitioners' 1989 return is equal to the total of the amounts of wages and salaries reflected in Forms W-2 issued to Ms. Harp for 1989. 7 The amount of wages and salaries reported in petitioners' 1990 return is equal to the total of the amounts of wages and salaries reflected in Forms W-2 issued to petitioner and Ms. Harp, respec- tively, for 1990.Page: Previous 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Next
Last modified: May 25, 2011