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Deposits/Credits for 1989
Institution Account No. Deposits/Credits
Peoples Bank of Oxford 604366 $ 6,513
Peoples Bank of Oxford 86409 46,481
Citadel Fed. Cred. Union 304380 6,057
Total Deposits/Credits $59,051
Deposits/Credits for 1990
Institution Account No. Deposits/Credits
Peoples Bank of Oxford 604366 $15,064
Peoples Bank of Oxford 86409 32,737
Citadel Fed. Cred. Union 304380 14,954
Total Deposits/Credits $62,755
For 1986, of the above $41,459 in total funds deposited into
or credited to petitioner's accounts, $1,130 constituted interest
income earned on petitioner's deposits. Petitioner was entitled
to a personal exemption in the amount of $1,080.
For 1986, petitioner received taxable income in the amount
of $40,379 (total deposits/credits of $41,459 less personal
exemption of $1,080 equals $40,379). For 1986, petitioner's
total Federal tax liability equaled $16,505, of which $11,545
constituted income taxes and $4,960 constituted self-employment
taxes.
For 1987, of the above $54,824 in total funds deposited into
or credited to petitioner's accounts, $1,914 constituted interest
income earned on petitioner's deposits, and $1,629 constituted
rental income from the Housing Authority of the City of Chester.
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Last modified: May 25, 2011