Steven K. Stoddard and Ellen M. Stoddard - Page 10




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          and 1997 joint returns on May 14, 1997, and February 8, 1998,               
          respectively.                                                               
               The 1995 joint return included Schedule A, Itemized Deduc-             
          tions (Schedule A).  The 1995 Schedule A claimed deductions of              
          $6,177 for taxes, $38,138 for mortgage interest, and $490 for               
          gifts to charity.                                                           
               The 1995 joint return also included Schedule D, Capital                
          Gains and Losses (Schedule D).  In Schedule D, petitioners                  
          reported a long-term capital gain of $25,204, which petitioners             
          included as income on line 13 of their 1995 joint return.  In               
          part II of Schedule D, Long-Term Capital Gains and Losses–-Assets           
          Held More Than One Year, petitioners reported, inter alia, that             
          (1) the condo was sold on July 20, 1995, (2) the sales price of             
          that condo was $211,000, and (3) the cost or other basis of the             
          condo was $185,796.                                                         
               The 1995 joint return also included Schedule E, Supplemental           
          Income and Loss (Schedule E).  The 1995 Schedule E, inter alia,             
          claimed a depreciation deduction of $5,491 with respect to the              
          condo.                                                                      
               The 1996 joint return included Schedule A.  The 1996 Sched-            
          ule A claimed deductions of $6,834.14 for taxes, $21,846.03 for             
          mortgage interest, and $500 for gifts to charity.                           
               The 1996 joint return also included Schedule E.  With                  
          respect to the Doon Way residence, the 1996 Schedule E reported             







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