- 19 - Year Compensation 1982 $294,263 1983 348,630 1984 250,000 1985 356,590 During the years in issue, petitioner Arlene Barlow was not generally employed outside the home. She did receive some minimal compensation in 1984 and 1985 working for petitioner’s professional corporation. Petitioner is also a sophisticated investor. Prior to purchasing a partnership interest in Dickinson, petitioner’s investment portfolio included a variety of interests. For example, petitioner owned stock in a closely held corporation, DOTT Manufacturing Co., that formed plastic products for the automobile industry.7 Petitioner also owned partnership interests in Wilmington Associates, a “land type of investment” in North Carolina; 16-75 Land Co., “an investment in an office building” in Michigan; and Stonebridge Manor Properties, a partnership whose business is not described in the record. Petitioner also owned an interest in Greater Mary, an operating coal mine in Pennsylvania. In addition, petitioner owned stocks and bonds, including municipal bonds, as well as a communications system that he rented to a medical clinic. 7 On their income tax return for 1985, petitioners reported gain from the sale of stock in Dott in the amount of $222,349, based on a gross sales price of $287,034 and cost or other basis, plus expense of sale, in the amount of $64,685.Page: Previous 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Next
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