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6. Whether There Were Actual Repayments With Respect to
the September 1982 Note and the October 1982 Note
Except for one $15,000 payment in 1982, Stephen made no
payments to petitioner after he signed the September 1982 note.
See, e.g., Estate of Maxwell v. Commissioner, 98 T.C. at 604.
As for the $15,000 payment, Stephen paid that amount to
petitioner on November 29, 1982, approximately two months after
petitioner had given him a second check for $50,000. Neither
petitioner nor Stephen was able to explain why he paid petitioner
$15,000 approximately two months after she had transferred to him
during 1982 an additional $50,000. The record is also unsatis-
factory as to why petitioner transferred a total of $100,000 to
Stephen when he needed only approximately $56,000 during 1982 to
pay off an outstanding mortgage on his house. Moreover, peti-
tioner testified that the $15,000 payment that Stephen made to
her on November 29, 1982, was a partial repayment with respect to
the two $50,000 transfers she had made to him on June 18, 1982,
and September 9, 1982, respectively. However, petitioner made no
reference to any portion of that payment in the February 1987
letter to Stephen in which she summarized the amounts she consid-
ered paid as of January 3, 1986, with respect to the $50,000
transfer she had made to him on June 18, 1982, and he raised no
questions about that omission when he signed that letter. Based
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