- 20 - On a date not disclosed by the record, Colonial Mortgage issued Form 1098, Mortgage Interest Statement (Form 1098), for 1996, to Essie Whitehead and Mr. Whitehead. The address for them shown on that form was the Kirkland property address. During 1996, mortgage interest and property taxes of $7,951.34 and $1,821.35, respectively, were paid with respect to the Kirkland property.11 During each month throughout 1996, except January, Ms. Whitehead signed and issued a check payable to Essie Whitehead that was drawn on petitioners’ joint checking account with SeaFirst bank (petitioners’ joint checking account). The total amount of those 11 checks was $6,600. None of those checks bore a notation as to their purpose. Essie Whitehead negotiated each of those checks. During each month throughout 1997, except May, June, and November, Ms. Whitehead signed and issued a check payable to Essie Whitehead that was drawn on petitioners’ joint checking account. In addition to the check so issued to Essie Whitehead during each of the months March and October 1997, Ms. Whitehead 11The parties stipulated that during 1997 petitioners paid mortgage interest and property taxes of $27,651 and $5,584, respectively, with respect to the Kirkland property. That stipulation is clearly contrary to the facts that we have found are established by the record, and we shall disregard it. See Cal-Maine Foods, Inc. v. Commissioner, supra. The record estab- lishes, and we have found, that during 1997 petitioners paid mortgage interest and property taxes of $27,651 and $5,584, respectively, with respect to the Sumner property.Page: Previous 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Next
Last modified: May 25, 2011