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With respect to Robert, in addition to the $100,000 that he
had received from petitioner, as of October 4, 1982, he had
approximately $100,000 that was invested in various checking,
savings, and securities accounts. On January 21, 1983, Robert
acquired a house for $185,000 by paying almost $170,000 in cash
and assuming the seller's existing mortgage of about $16,000. As
of the date of the purchase of the house, Robert's gross assets
consisted of his newly acquired house and approximately $30,000
that was invested in checking, savings, and securities accounts.
Although Robert had equity of about $170,000 in his newly ac-
quired house, there is no indication in the record that petition-
er would have required him to sell or refinance his house to
repay the $100,000 she transferred to him in 1982. Robert's
liquid assets of about $30,000 would not have been sufficient to
satisfy a demand for repayment of $100,000.
It is also significant that Robert's gross income for the
years 1982, 1984, and 1985, as reflected in his Federal income
tax returns for those years, ranged from approximately $79,000 to
$90,000. Robert testified that his income was to be the source
of repayment. However, the record does not establish that
Robert's income during the years 1982 through 1985 was sufficient
not only to cover his personal living expenses, his other expens-
es, and his income tax liabilities, but also to permit him to
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