- 4 - Year Moore’s Auto Account Shop E-Z Mart Account 1987 $54,737 $45,865 1988 41,517 68,585 1989 50,217 61,923 1990 47,181 70,066 During taxable years 1987 and 1988, petitioners maintained a savings account at Branch Banking and Trust Company (BB&T account). Petitioners’ deposits into the BB&T account for the years 1987 and 1988 were $8,500 and $6,105, respectively. Lesely’s Disability Compensation Lesely received disability compensation payments from the Federal Government for an injury he suffered during previous employment. During the subject years, Lesely received disability compensation payments as follows: Year Total Payments Received 1987 $13,482 1988 12,930 1989 15,342 1990 16,075 Each of these disability compensation payments was deposited into petitioners’ bank accounts. Petitioners’ Cash Expenditures Petitioners made numerous cash expenditures during the subject years. Those expenditures were for, among other things, mortgage payments on their residence, two parcels of real property, a mobile home, payments on a new 1987 Mercedes 560SEL sedan (purchased in 1988), payments on a new 1987 Lincoln TownPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Next
Last modified: May 25, 2011