- 4 - Federal income tax return, petitioner claimed a dependency exemption deduction for Mr. Ivey. For 1997,3 petitioner reported income from rents of $3,720 for the Washington property, $3,000 for the Douglas Way property, and $1,800 for the Marshall Lane property. Petitioner did not report income for the Park Place property. Petitioner deducted the following relevant amounts for her various properties for tax years 1996 and 1997 on Schedules E: Property 1996 1997 Washington: Repairs $2,200 $2,150 Taxes 800 4,400 Utilities 480 --- Pest control --- 1,100 Yard work --- 480 Park Place: Rental expenses 5,380 2,381 Douglas Way: Repairs 650 600 Legal 1,000 --- Auto --- 857 Interest --- 3,900 Pest control --- 400 Yard work --- 1,000 3 The first page of petitioner’s 1996 Federal income tax return indicates that petitioner reported a net loss of $6,337 on Schedule E, Supplemental Income and Loss. However, the record does not contain the Schedule E.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011