- 20 -
to be treated as taxable income. The amounts shown as conceded by
respondent are to be treated as nontaxable income.
Total Deposits Into Deposits Conceded Other Checks Conceded
Year Petitioner’s Bank AccountsBy Petitioner By Respondent By Petitioner By Respondent
1987 $533,388 $234,453 $253,477 $20,311 $19,249
1988 505,979 182,338 278,757 -- --
The above deposits and other checks conceded by petitioner as
taxable income generally reflect funds petitioner received as legal
and management fees from 2618 Inc and other funds that petitioner
received in connection with his law practice.
Bank Deposits and Other Checks Still in Dispute
For 1987, the treatment as taxable income of $45,458 in bank
deposits and $10,677 in checks made payable to petitioner but not
deposited into petitioner's bank accounts remains disputed by the
parties.
For 1988, the treatment as taxable income of $44,884 in bank
deposits remains disputed by the parties.
With regard to the $45,458 in bank deposits still in dispute for
1987, the following schedule reflects for each bank account the date,
payor, and amount of each bank deposit:
Page: Previous 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 NextLast modified: May 25, 2011