Investment Research Associates - Page 271




                                       - 337 -                                         
                         Date of              Amount of                                
                         Payment               Payment                                 
                         12/16/80              $80,000                                 
                        1980 total     80,000                                         
                         08/11/81             33,925                                   
                         10/23/81              8,795                                   
                        1981 total           42,720                                   
                         10/13/82               19,247                                 
                        1982 total           19,247                                   
                         02/18/83             50,000                                   
                         03/15/83             22,224                                   
                         05/11/83             6,199                                    
                         09/14/83             1,227                                    
                         09/14/83              29,749                                  
                        1983 total           109,399                                  
               HCT, Kanter as Trustee, filed Forms 1041, U.S. Fiduciary                
          Income Tax Returns, for its taxable years ended February 28,                 
          1981, 1982, 1983, and 1984.  Each of these returns was signed by             
          Kanter.  On its returns for the taxable years ended February 28,             
          1981 through 1984, HCT claimed the following deductions for its              
          payments to Holding Co. pursuant to the carried interest:                    
               Description         Taxable              Amount of                      
               of Deduction        Year Ended           Deduction                      
               Fiduciary fees      2/28/81              $80,000                        
               Participation fees  2/28/82              42,720                         
               Commissions         2/28/83              88,203                         
               Commission expense  2/28/84              56,921                         
          On its return for the taxable years ended February 28, 1982,                 
          1983, and 1984, HCT did not claim any deduction for fiduciary                
          fees.  Each of the returns of HCT for the taxable years ended                








Page:  Previous  327  328  329  330  331  332  333  334  335  336  337  338  339  340  341  342  343  344  345  346  Next

Last modified: May 25, 2011