18- -
Petitioners paid $10,370.80 for legal fees to Mr. Delgado on
September 18, 1989.
In 1990, Dr. Oliver treated a child at his home for injuries
sustained while he was playing with petitioners' son. As a
result, a lawsuit was filed against Dr. Oliver personally and in
his professional capacity in which the plaintiff alleged that Dr.
Oliver had acted unethically when he treated the child. In
settlement of the lawsuit, petitioners sent a check on June 29,
1990, in the amount of $6,000 to the plaintiff's attorney. Mr.
Gaines S. Dyer, the attorney who represented Dr. Oliver in the
case, did not charge petitioners a fee for his legal services.
Petitioners constructed a landfill on their property in
response to the flooding they experienced in February and April
of 1991. In January 1992, a neighbor filed a lawsuit against
them in response to their construction of the landfill. As a
result of the lawsuit, petitioners paid damages to their neighbor
totaling $4,500 in 1992 and legal fees to their attorney totaling
$1,500 in 1992.
Interest Income
Information returns provided to the Internal Revenue Service
for the taxable year 1990 show that petitioners received $3,401
interest income in 1990, consisting of $633 interest income from
Allstate Life Insurance Co., $368 from Sunburst Bank, $900 from
Planters Bank & Trust Co., and $1,500 from Charles Schwab and
Co., Inc. Petitioners also received $11,339 interest income from
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