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The payments related to the Prudential transactions are
allocable to Ballard, Lisle, and Kanter in the following amounts
for each of the years 1978 through 1989:
Year Total Ballard (45%) Lisle (45%) Kanter (10%)
1978 $38,394 $17,277 $17,277 $3,839
1979 415,017 186,758 186,758 41,502
1980 870,085 391,538 391,538 87,009
1981 1,039,937 467,972 467,972 103,994
1982 1,577,781 710,001 710,001 157,778
1983 721,812 324,815 324,815 72,181
1984 750,478 337,715 337,715 75,048
1985 780,570 351,257 351,257 78,057
1986 633,532 285,089 285,089 63,353
1987 668,666 300,900 300,900 66,867
1988 629,867 283,440 283,440 62,987
1989 796,649 358,492 358,492 79,665
With regard to the $213,750 paid by Schaffel to IRA in 1983
related to a Travelers' financing transaction, as well as all
payments by the Five to Holding Co, the record does not show that
any of these payments were ever distributed to Lisle. We hold
that Kanter realized all of the income.
Schaffel, Frey, and Essex made the following payments to
IRA and Holding Co. during the years 1981 through 1989 that are
taxable to Kanter, as follows:
Year Schaffel Frey Essex Total
1981 -- $80,616 -- $80,616
1982 -- -- $70,538 70,538
1983 $213,750 16,200 64,125 294,075
1984 600,000 113,827 109,013 822,840
1985 1,160,000 256,557 98,325 1,514,882
1986 1,003,500 -- 65,835 1,069,335
1987 -- 33,570 98,752 132,322
1988 -- -- 96,188 96,188
1989 -- -- 42,332 42,332
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