- 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:Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 Next
Last modified: May 25, 2011