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Petitioner did not file a Federal income tax return (return)
for 1988 or 1989.
During 1988, petitioner received wage income from
Transamerican Plastics Corporation in the amount of $36,400,
pension income from Prudential Insurance Company in the amount of
$1,801, and interest income from Bank of America, Home Federal
Savings, First Interstate Bank, and Chino Valley Bank in the
amounts of $44, $242, $179, and $2, respectively.
In the late 1960's, petitioner and her husband purchased a
two-bedroom, one-bath house on West El Repetto Drive in Monterey
Park, California (Repetto property). Petitioner and her husband
resided in the Repetto property for a few years and then
converted it to a rental property which they leased for most of
the 20 years that petitioner owned it. During 1988, petitioner
sold the Repetto property for $175,000. At settlement of the
sale of the Repetto property, various amounts were credited and
debited against that sales price, as reflected in the final
settlement statement with respect to that sale.
During 1989, petitioner received wage income from
Transamerican Plastics Corporation in the amount of $21,461,
pension income from Prudential Insurance Company in the amount of
$1,791, and interest income from Bank of America, Home Federal
Savings, First Interstate Bank, and Coast Bank in the amounts of
$12, $44, $12, and $699, respectively.
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Last modified: May 25, 2011