- 5 - completion of condominium per section 4 and wife is given deed to her unit, or death of the husband. During 1990, petitioner paid Mary Walker a total of $2,400. Petitioner claimed that these payments were deductible alimony on his 1990 Federal income tax return; however, Mary Walker did not report these payments as income on her 1990 Federal income tax return. Petitioner filed his 1990 Federal income tax return on May 24, 1993. On Schedule C of this return, petitioner reported gross sales of $900 from a business described as "Management Consulting, Training Development, Jewelry, Multilevel". Cost of goods sold of $483 was reported, and petitioner claimed other expenses totaling $27,485, resulting in a net loss of $27,068. On May 23, 1994, petitioner filed an amended Federal income tax return for 1990. In the amended return, petitioner filed two Schedules C which separated the activities reported in his original Schedule C as follows: Schedule C #1 Principal Business: Minority Student Education Programs Research, Experimentation Gross receipts . . . . . . . . . . . . . -0- Gross income . . . . . . . . . . . . . . -0- Expenses Car and truck $9,849.75 Insurance 401.66 Interest 1,814.58 Office expense 1,800.00 Rent/other prop. 918.00 Repairs and main. 149.05 Supplies 1,783.07Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Next
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