John M. Schaefer - Page 19

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               Petitioner contends that he did not receive $190,000 in                
          1992.  He claims (without further explanation) that he cleared              
          $5,000 or $419.  Petitioner offered into evidence the settlement            
          sheet from the closing on the Brentwood property.  We did not               
          admit it because petitioner did not exchange it as required by              
          the Court's standing pretrial order or as he had agreed to do in            
          the parties' joint motion to continue.  Although petitioner                 
          testified that he received payments totaling several thousand               
          dollars for the Brentwood property in 1993 before he reacquired             
          it, he did not testify about the terms of the sale, whether the             
          sale was an installment sale, or the details of his reacquisition           
          of the Brentwood property in 1993.  Petitioner did not prove that           
          he did not have gain on the sale of the Brentwood property.  We             
          find that petitioner failed to report $118,000 of gain for 1992.            
          E.   Whether Petitioner Has Established the Amount of His Loss              
               Arising From His Chapter 11 Bankruptcy                                 
               Petitioner was a debtor in bankruptcy from about 1987 to               
          mid-1991.  In 1990 and 1991, the trustee of his bankruptcy estate           
          disbursed $1,866,170 to petitioner's creditors to satisfy various           
          judgments and claims.  Among the claims was a $1,950,000 judgment           
          ($300,000 of compensatory damages previously paid in 1990 and               












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