Beverly Gordon - Page 16

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          aware of that monthly rent.                                                 
               The accounting firm of Braunstein & Stern (B&S) advised the            
          Gordons to purchase another principal residence after the sale of           
          the Roslyn residence in order to defer the recognition of the               
          gain from the sale of the Roslyn residence by satisfying the                
          requirements of section 1034.                                               
               On November 9, 1988, the Gordons purchased for $420,000 and            
          titled in both their names another condominium located at One               
          Lincoln Plaza Condominiums (Lincoln Plaza residence).  The                  
          Gordons financed that purchase with (1) cash of $100,000 which              
          Ms. Gordon provided and for which Mr. Gordon reimbursed her                 
          shortly thereafter and (2) a mortgage loan of $320,000 on which             
          the Gordons were jointly liable and which required payments of              
          that amount on or before November 9, 1993, and monthly interest             
          calculated at 10 percent annually.  The $100,000 in cash that Mr.           
          Gordon paid when the Gordons purchased the Lincoln Plaza resi-              
          dence made Ms. Gordon whole with respect to the Gordons' using              
          $100,000 of the proceeds from the sale of the Roslyn residence to           
          pay off the $100,000 mortgage loan on that residence that Mr.               
          Gordon utilized in his business activities.  The Gordons' total             
          monthly payment for the Lincoln Plaza residence was, and Ms.                
          Gordon was aware that it was, approximately $3,000.                         
          The Gordons' Marriage, Lifestyle,                                           
          and Household Expenses                                                      
               Throughout their marriage until some point prior to their              

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