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on the state of the record in these cases, we do not place any
particular weight on the $15,000 payment that Stephen made to
petitioner on November 29, 1982, in resolving whether petitioner
made a gift or a loan to Stephen for Federal gift tax purposes.
Robert did not repay any portion of the October 1982 note he
signed. See, e.g., Estate of Maxwell v. Commissioner, supra at
604.
7. Whether Stephen and Robert Had the
Ability To Repay Their Respective Notes
With respect to Stephen, except for the house that he and
his wife purchased in September 1980 for $300,000, the record
does not contain any information relating to his assets at the
time petitioner made each of the two $50,000 transfers to him
during 1982 or at any time thereafter. During 1982, Stephen
retired a mortgage that encumbered his house in the approximate
amount of $56,000. Although that fact indicates that Stephen had
some equity in his house, the record does not disclose whether
that equity, alone or in conjunction with his other assets, would
have been sufficient to repay the $100,000 petitioner transferred
to him during 1982. Even if we were to assume that Stephen had
sufficient equity in his house which, alone or together with his
other assets, would have enabled him to repay that amount, there
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