- 6 -
$83,173.97 of the $83,262.91 income reported on the Forms
1099 attached to the return as filed with the IRS. See
supra n.3. Again this $143,437.37 is exactly $88.94 less
than the total of the Forms 1099 and W-2 attached to the
return as filed with the IRS.
Taxable Year 1991
Forms W-2 $39,548.06
Forms 1099 12,875.24
Total Comp. $52,423.30
Original Return Revised Return
Wages 1 $45,123.33 $39,548.06
Interest 149.57 149.57
Business Income (9,990.95) 2,884.29
Self-Employment Tax (203.77)
Total $35,281.95 $42,378.15
Adj. Gross Inc. $35,281.95 2 $42,138.58
Sched. C
Gross Receipts $ 3 $12,875.24
Total Expenses (9,990.95) (9,990.95)
Net Profit $ $ 2,884.29
1The record does not explain the source of this $45,123.33
figure that petitioner placed on the return.
2There is no explanation as to why this figure is $239.57
less that the preceding figure. In any event, with the five
personal and dependency exemptions claimed by petitioners
and with Schedule A itemized deductions of $38,918.12,
petitioners' return reported no taxable income for 1991,
showing instead a negative figure of $7,529.
3It appears that the IRS representative entered the
$12,875.24 in gross receipts and computed the net profit at
$2,884.29.
Attached to petitioners' 1990 return as filed were four
Forms 1099 and one Form W-2; attached to the 1991 return as filed
were four Forms 1099 and three Forms W-2. The revised figures
used by the IRS representative were generally the figures shown
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next
Last modified: May 25, 2011