- 21 -
Year Category of Income, Expenses and Losses Amount Total
1984 Gain from sale of stock and commodities $ 86,914
Partnership distributions 11,324
Royalties 1,213
$ 99,451
1985 Gain from sale of stock and commodities $ 15,385
Interest 7,731
Bank deposits
Deseret Fed Sav & Loan Assoc 7,376
$ 30,492
1986 Loss from sale of stock and commodities $ (5,313)
Bank deposits
Deseret Fed Sav & Loan Assoc 189,773
Business expenses (17,488)
$ 166,972
1987 Loss carryover from 1986 $ (17,431)
Loss from sale of stock and commodities (64,130)
Interest 154
Checks not deposited into petitioner’s
bank accounts 145,430
Bank deposits
Deseret Fed Sav & Loan Assoc 1,149,642
Guardian State Bank 255,678
Business expenses (121,190)
$1,348,153
1988 Gain from sale of stock and commodities $ 27,226
Interest 71
Fees 15,000
Checks not deposited into petitioner’s
bank accounts 44,100
Bank deposits
Guardian State Bank 34,532
Business expenses (30,100)
Judgments against petitioner (88,222)
$ 2,607
1989 Gain from sale of stock and commodities $ 83,165
Fees 59,155
Judgments against petitioner (10,851)
$ 131,469
Based on the above calculations, there exist substantial
understatements of income for each of the years 1984 through 1987
Page: Previous 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 NextLast modified: May 25, 2011