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Farm Fire and Casualty Co. The funds from the fire insurance
settlement were deposited on March 18, 1988, into a joint savings
account held at Continental Bank in decedent's and Ms.
Friedeberg's names. The Continental account was closed on March
6, 1989, and the closing balance was $100,390.73. The funds from
the Continental account were invested and reinvested in several
CD's in the joint names of decedent and Ms. Friedeberg held at
Southern California Savings, Gibraltar Savings, and California
Federal Bank.
On September 17, 1990, decedent and Ms. Friedeberg opened a
joint CD at California Federal Bank. The balance of this CD, as
of the date of decedent's death, was $100,000. Decedent and Ms.
Friedeberg also had a balance of $26,244 in a joint checking
account held with Bank of America. A second joint checking
account was also held at Bank of America, which had a balance of
$3,480 as of the date of decedent's death. Decedent and Ms.
Friedeberg also had a joint savings account with Bank of America
with a balance of $5,214 as of decedent's date of death.
In 1988 and 1989, decedent reported on his individual
Federal income tax return rental income and loss from the
Valencia, Chenery, Dolores, Onondaga, and South Fitch properties.
Ms. Friedeberg did not report rental income or loss on her
Federal income tax returns for 1988 and 1989. For the years 1990
through 1992, decedent and Ms. Friedeberg both reported income
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