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transfers between petitioner's bank accounts, adjustments, and
unreported gross income for 1990, 1991, and 1992, as follows:
Bank Account 1990 1991 1992
Main account:
Total deposits $1,470,890.84 $1,672,099.55 $52,732.35
Transfers -0- (140,000.00) -0-
Refunds (29,530.00) -0- -0
Charge backs (9,330.37) -0- -0
Interest (2,703.70) (1,792.00) (1,647.59)
Income 1,429,326.77 1,530,307.55 51,084.76
Refund account:
Total deposits $106,527.85 49,635.00 4,300.00
Transfers (26,002.00) (48,995.00) (3,300.00)
Refunds -0- -0- -0-
Charge backs -0- -0- -0-
Interest -0- -0- -0-
Income 80,525.85 640.00 1,000.00
FIB Roseburg:
Total deposits -0- 83,924.26 23,157.57
Transfers -0- (48,000.00) (5,000.00)
Income -0- 35,924.26 18,157.57
SUB Roseburg:
Total deposits -0- -0- 233,132.41
Transfers -0- -0- (207,877.63)
Income -0- -0- 25,254.78
Total income 1,509,852.62 1,566,871.81 95,497.11
Reported
gross income (1,165,076.09) (888,637.00) (15,835.00)
Unreported income 344,776.53 678,234.81 79,662.11
In the notice of deficiency, respondent determined that
petitioner had unreported income during 1990, 1991, and 1992 as
follows:
Bank Account 1990 1991 1992
Main account $263,700 $630,113 $35,173
Refund account 80,525 640 -0-
FIB Roseburg -0- 35,810 18,313
SUB Roseburg -0- -0- 177,726
Total 344,225 666,563 1231,212
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Last modified: May 25, 2011