- 4 -
petitioner indicated that the only property stolen was a tool
chest.
On May 29, 1991, petitioner's bankruptcy proceedings were
closed.
On April 18, 1994, petitioners untimely filed their 1991
joint Federal income tax return.
On February 27, 1995, petitioners untimely filed their 1992
and 1993 joint Federal income tax returns.
On October 15, 1995, petitioners timely filed their 1994
joint Federal income tax return.
On their 1991 through 1994 joint Federal income tax returns,
petitioners claimed NOL carryovers that purportedly originated
primarily in 1987 and prior years as follows:
Tax Return NOL Carryovers Claimed
1991 $225,127
1992 174,729
1993 106,089
1994 31,784
On their 1991 through 1994 joint Federal income tax returns,
after applying the above claimed NOL carryovers, petitioners' net
taxable income or net losses were reflected as follows:
Tax Return Taxable Income or Loss
1991 ($186,017)
1992 (118,378)
1993 (36,484)
1994 10,461
Page: Previous 1 2 3 4 5 6 7 Next
Last modified: May 25, 2011