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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.
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Last modified: May 25, 2011