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Table 9
Schedule C Reconstruction--1986
Bank Deposits Amount Explanation
Barnett joint checking $48,471.42
Barnett money market 145,562.24
Safra Bank 849,128.20
1,043,161.86
Nontaxable Income
Transfers 37,300.00 1. These figures drawn from the notice of
deficiency for tax years 1986 and 1987.
2. The notice of deficiency lists only
$37,300 from transfers this year. The
Safra account lists $62,000 in transfers
from two different bank accounts. The
other two accounts do not list any
transfers.
Loans - Safra Bank 200,000.00 3. Respondent conceded the nontaxable
source of funds on its original Schedule C
calculations in the notice of deficiency.
These loans probably account for July and
August deposits.
Tax Refund 30,204.45
(267,504.45)
Petitioner's Explanations
Safra Bank 621,151.20 1. Table 6.
Barnett money market 14,230.89 2. Table 7. This amount is less the
1986 expenditures $30,204.45 tax refund conceded by
respondent and accounted for in
"Nontaxable Income".
Barnett money market 8,475.93 3. This reflects expenditures made in 1987
1987 expenditures whose source was 1966 deposits. See Table
12.
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