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“CONSIGNMENT SALES - CD’s” (consignment sales business).11 Part
I, Income, of the 1993 Schedule C relating to the wholesale
business reported “Gross receipts or sales” of $158,022, “Cost of
goods sold” of $137,990, and “Gross income” of $20,032. The 1993
Schedule C for the wholesale business showed “Total expenses
before expenses for business use of home” of $23,025, “Expenses
for business use of your home” of $4,867, and “Net profit or
(loss)” of ($7,860). Part I, Income, of the 1993 Schedule C
relating to the consignment sales business reported no “Gross
income”, “Total expenses before expenses for business use of
home” of $1,500, and “Net profit or (loss)” of ($1,500).
The 1993 joint return also included Schedule D. Part II of
the 1993 Schedule D, Long-Term Capital Gains and Losses, reported
“Gain from Form 4797" of $11,315, “Long-term capital loss carry-
over from 1992 Schedule D” of $27,000, and “Net long-term capital
gain or (loss)” of ($15,685).
The 1993 joint return also included Form 4797, Sales of
Business Property (Form 4797), that was referenced in Part II of
the 1993 Schedule D. In Part III of that form, Gain From Dispo-
sition of Property Under Sections 1245, 1250, 1252, 1254, and
1255, petitioner and Ms. Brodsky reported that on January 1,
1993, they sold for $48,000 an interest in the Sanchez Street
11The respective Schedules C for those two businesses did
not list the names under which petitioner operated them.
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