- 17 -
Accu-Data made three payments to GMAC, each in the amount of
$250.32, on July 10, August 6, and September 10, 1987. It also
paid GMAC $4,464.64 on September 11, 1987, and $10 on September
24, 1987.
Mr. Morris transferred to petitioner ownership of a life
insurance policy with a cash value of $15,000.18
Petitioner's Education, Work
Experience, and Family Life
Although petitioner had worked during 1981 and 1982 as an
accounts receivable clerk at a medical supply company, she was
not employed during the years at issue. Rather, during those
years, petitioner was a homemaker, mother, and part-time college
student.
During the fall of 1982, petitioner, who had not had any
post-high school education, entered Parkland College. She took
courses there over the next several years, including two intro-
ductory courses in basic accounting principles, and received a
degree from that institution in the spring of 1987. In the fall
of 1987, petitioner entered the University of Illinois and took
courses there for two years, including two intermediate account-
ing courses, before she withdrew to devote more time to her
children. Sometime after the years at issue, petitioner returned
17(...continued)
year were attributable to estimated tax payments.
18 The record does not disclose when that policy was transferred
to petitioner.
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