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The following additional amounts were paid from the National
City Bank account in 1991:
Payee Amount
Bob Kelly $164.00
Jim Wilson 200.00
First Card 200.00
Manufacturers Hanover 221.00
Evelyn Johanson 1,614.00
Wholesale Club 3,000.00
Sam's Club 1,874.15
Cash $1,600.00
During 1991, miscellaneous bank charges and returned check
fees of $269.65 were debited/charged against the National City
Bank account.
c. IRS Determination for 1991
The internal revenue agent determined Raymond's gross income
from the sale of sports memorabilia and supplies for 1991 as
follows:
Ameritrust deposits $404,748
Less misc. expenses (5,763)
National City Bank deposits 59,199
Less misc. expenses (2,600)
Total 455,584
The agent further determined that petitioners' 1991 income
should be increased by $91,749 computed as follows:
Gross receipts $455,584
Purchases (353,234)
Rent (6,000)
Self-employment tax adjustment (4,601)
Total 91,749
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