- 12 -
other restaurants, the amount of which was not stated on that
application. Petitioners submitted to Barnett Bank an applica-
tion, dated October 19, 1993, for a line of credit in the amount
of $75,000. That application showed, inter alia, (1) gross
monthly salary of $9,000 from three restaurants and (2) other
monthly income of $1,800 in the form of interest, or total annual
income of $129,600.
During the years at issue, petitioners did not receive any
inheritances, legacies, or devises.
Petitioners filed joint tax returns (returns) for the years
1992, 1993, and 1994, in which they reported the following
amounts of wages or salaries from the corporate owners of the
restaurants indicated:
Page: Previous 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 NextLast modified: May 25, 2011