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(1) Did petitioners erroneously include in dividend income
in their tax returns (returns) for 1992 and 1993 cash distribu-
tions (cash distributions) received during those years on certain
stock? We hold that they did not except to the extent stated
herein.
(2) Did petitioners erroneously include in dividend income
in their returns for 1992, 1993, and 1994 dividends in stock
received during those years under dividend reinvestment programs?
We hold that they did not.
(3)(a) Should respondent's determination with respect to
certain interest income reported by petitioners in Schedule C of
their return for 1992 be sustained? We hold that it should.
(b) Should respondent's determinations with respect to
the expenses claimed by petitioners in Schedules C of their
returns for 1992, 1993, and 1994 be sustained? We hold that they
should.
FINDINGS OF FACT1
Some of the facts have been stipulated and are so found.
Petitioners resided in Santa Fe, New Mexico, at the time the
petition was filed.
Petitioners filed joint returns for 1992, 1993, and 1994.
1 Unless otherwise indicated or needed for clarity, our Findings
of Fact and Opinion pertain to 1992, 1993, and 1994, the years at
issue.
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