- 4 -
Month Total Deposits Into Checking Account
1993 1994 1995
January -0- $ 21,346 $ 10,533
February $ 28,154 34,950 19,056
March 25,824 12,150 23,104
April 37,400 53,022 18,000
May 20,131 44,211 21,372
June 48,870 55,007 61,050
July 34,149 37,700 49,146
August 33,038 17,577 670
September 52,000 53,619 24,465
October 91,020 51,291 51,946
November 72,000 56,580 17,492
December 65,150 40,450 34,500
Total $507,736 $477,903 $331,334
On November 16, 1993, for a stated purchase price of
$73,000, petitioners purchased a residence in Clinton, Louisiana.
In their purchase of the residence, petitioners paid $49,205 in
cash and obtained a mortgage of $25,000.
On a loan application dated July 2, 1994, Richard Adair
indicated that his monthly salary from the roofing business was
$3,200. On a loan application dated March 15, 1995, Richard
Adair indicated that his weekly salary from the roofing business
was $800.
For 1993, 1994, and 1995, petitioners filed joint Federal
income tax returns on which they reported the following amounts:
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Last modified: May 25, 2011