Thomas J. Rosser - Page 7




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          interest on $1,000 that he borrowed to pay for another person’s             
          car lease, $10,000 that he used to retire an obligation of                  
          another person, and $5,000 to establish a trust for another                 
          person.                                                                     
          D.   Petitioner’s Income Tax Returns                                        
               Petitioner reported on Schedules C (Profit or Loss From                
          Business) attached to his Forms 1040 (U.S. Individual Income Tax            
          Returns) that, doing business as Financial Perspectives, he had             
          cash receipts of $155,584 for 1990, $118,745 for 1991, and                  
          $151,152 for 1992, and business expenses (other than interest) of           
          $44,403 for 1990, $46,790 for 1991, and $52,993 for 1992.                   
               1.   1990                                                              
               For 1990, petitioner reported that he, through Financial               
          Perspectives, paid mortgage interest of $173,872 and other                  
          interest of $68,209.  He reported that he paid mortgage interest            
          in 1990 of $34,479 to State Savings Bank, $57,662.23 to County              
          Savings Bank, $25,005.96 to the Skidmores, $17,224.33 to an                 
          unidentified lender for the second mortgage for the Utica Nursing           
          Home, and $39,500 to an unidentified lender for the first                   
          mortgage for the Kirkersville Nursing Home.                                 
              2.   1991                                                              
               For 1991, petitioner reported gross income of $118,745,                
          adjusted gross income of $21,316, deductions of $165,841                    








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