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Number of
Year Amount Deposits
1986 $63,008 51
1987 83,403 52+
1988 53,550 35+
1989 60,541 25
1990 62,650 57
Respondent also included the amounts of all rebate and coupon
checks issued to the corporate petitioner that were not accounted
for in the corporate petitioner's income. Respondent since has
conceded amounts representing such rebate/coupon checks that were
shown to have been deposited in the corporate petitioner's bank
account. Other adjustments are reflected in the concessions
listed below.
Respondent has conceded (rounded to the nearest dollar) the
following:
Item 1986 1987 1988 1989 1990
Rebate/coupons $3,593 $6,369 $20,935 $7,597 $18,054
Annuity 13,067*
IRA Distribution 14,337*
Interest Income 239*
Dividend Income 140*
Tax on IRA 1,434
Dependency Exemption 1,080 1,900 1,950
*Respondent concedes those items because the Suttons had
already conceded them during the audit, and those items should
not have been included in the notice of deficiency.
The Suttons have conceded that they failed to report on
their individual income tax returns the following:
Item 1986 1987 1989
Dividend Income $180 $120 ---
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