- 3 -
Nov. 1, 1979 (Addendum), with Michael F. Connor, D.D.S., S.C.
The Addendum provides that:
This lease will continue in force between Michael F.
Connor, D.D.S., S.C. "Lessee" and Jane H. Connor "Lessor"
until either party terminates such with written notice of 90
days.
Rental increase can be made only upon agreement of both
parties.
During 1993 and 1994, Ms. Connor owned the Rochester Street
building and rented it to Michael F. Connor, D.D.S., S.C.
On October 31, 1993, a portion of Michael F. Connor, D.D.S.,
S.C., was sold for $110,000 to Dr. McKeever.
Dr. Connor practiced dentistry at the Rochester Street
building. In 1993 and 1994, he was employed full-time by Drs.
Connor & McKeever, S.C. In 1993 and 1994, Dr. Connor received
wages in the amounts of $168,808.87 and $181,382.84,
respectively, from Drs. Connor & McKeever, S.C.
On their 1993 and 1994 Schedules E, Supplemental Income and
Loss, petitioners reported rents received from Michael F. Connor,
D.D.S., S.C., in the amounts of $22,000 and $24,000 for 1993 and
1994, respectively, from the rental of the Rochester Street
building. After deducting expenses, petitioners reported income
in the amounts of $10,503 and $15,937 for 1993 and 1994,
respectively, from the rental of the Rochester Street building.
Petitioners also reported rental real estate losses in the
amounts of $33,214 and $5,679 for 1993 and 1994, respectively,
Page: Previous 1 2 3 4 5 6 7 8 9 Next
Last modified: May 25, 2011