Michael London - Page 70

        Increase (decrease) in net worth                                        152,131.71       (94,226.27)        54,050.54       198,460.26      278,771.69         103,500.21          234,474.16         350,485.51          122,198.50          309,126.70         
        Nondeductible expenditures                                                                                                                    35,633.45          45,796.50          54,560.89          84,634.61          115,836.98          129,495.55         
        Nondeductible capital loss                                                                                                                     6.980.55           4,188.00                 - 0 -         1,476.00                 - 0 -          3,000.00        
        Subtotal                                                                                                                                    321,385.69         153,484.71          289,035.05         436,596.12          238,035.48          441,622.25         
        Non-Taxable items                                                                                                                                                                                                                                                
        Bonds                                                 124,600.00                                                                500.00        54,700.00                                                                                                          
        Treasury bills                                                                           200,000.00                                                                                                                                                              
        Proceeds from sale of home at Franklin Ave.                                                                                                                      28,000.00                                                                                       
        Proceeds from sale of 400 & 402 Broadway                                                                                                      27,000.00                                                                                                          
        Other Non-Taxable items                                                                                                                        7,635.02           2,300.51          16,773.00          19,995.78            78,902.17          65,125.00         
        Corrected AGI                                                                                                                               232,050.67         123,184.20          272,262.05         416,600.34          159,133.31          376,407.25         
        Excess itemized deductions                                                                                                                    12,684.00          15,438.72          12,138.00          33,625.00            59,169.00          60,165.00         
        Personal exemptions                                                                                                                                               6,000.00           6,000.00            6,000.00            6,000.00            6,240.00        
        Corrected taxable income                                                                                                                    219,366.67         101,745.48          254,124.05         376,975.34            93,964.31         310,002.25         
        Taxable income per return                                                                                                                     54,427.00          69,571.00          74,868.00          65,001.00          112,665.00           96,882.00         
        Unreported income                                                                                                                           164,939.67           32,174.48         179,256.05         311,974.34          (18,700.69)         213,120.25         






































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