- 9 - claiming to report the income of J&R Trust, a complex trust, created on January 1, 1992, and carrying on (1) a business named “J & R” and (2) other activities (such returns being referred to, collectively, as the J&R Trust returns). Each of the J&R Trust returns is signed by one or the other of James or Rita Snyder as a fiduciary. For 1992, one “Kevin R. Richards” is reported as a fiduciary, and, for 1995, one “David J. Snyder” is reported as “trustee”. The business carried on under the name J & R is described as, for 1992, “management services” and, for the remaining years, “investments”. The J&R Trust returns report the following amounts of gross receipts from such business and interest income unrelated to such business: Year Gross Receipts Interest Total 1992 –- –- -- 1993 $11,606 $159 $11,765 1994 15,000 334 15,334 1995 8,800 242 9,042 With respect to such business, the following expenses and net profits are reported: Year Expenses Net profit 1992 $20,512 ($20,512) 1993 28,096 (16,490) 1994 4,233 10,767 1995 4,467 4,446 The J&R Trust returns also report net rental income and distributions received from Complete Connections Trust in the following amounts:Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011