- 27 -                                         
         taxable income until the time the settlement agreement was                   
         reached and he was no longer obligated to repay them.  Respondent            
         contends that the payments were not bona fide loans to petitioner            
         because Winston did not intend to enforce the advances as loans.             
         Therefore, the payments should have been included in petitioner’s            
         income for the tax year 1993.10                                              
               Gross income is “construed broadly to reach any accession to           
         wealth realized by a taxpayer over which the taxpayer has                    
         ‘complete dominion’”.  Fla. Progress Corp. v. Commissioner, 114              
         T.C. 587, 598 (2000) (quoting Commissioner v. Glenshaw Glass Co.,            
         348 U.S. 426, 431 (1955)).  Generally, the proceeds of a loan do             
         not constitute income to the borrower because the benefit is                 
         offset by an obligation to repay.  See Arlen v. Commissioner, 48             
         T.C. 640, 648 (1967).  Whether a bona fide debtor-creditor                   
         relationship exists is a question of fact to be determined upon              
         consideration of all the pertinent facts in the case.  Haber v.              
         Commissioner, 52 T.C. 255, 266 (1969), affd. 422 F.2d 198 (5th               
         Cir. 1970); Birnbaum v. Commissioner, T.C. Memo. 1993-485.  For a            
         disbursement to constitute a loan at the time funds are                      
         transferred, the recipient must intend to repay the proceeds and             
               10 Respondent maintained alternative protective positions in           
         the notices of deficiency by determining deficiencies                        
         attributable to the $48,420 in the 1993 and 1994 tax years.                  
         Petitioner did not report the amount until the 1995 year, when               
         the entire matter was completely settled.  The parties, in their             
         arguments on brief, frame the ultimate question in terms of                  
         whether the $48,420 is reportable in 1993 or 1995.                           
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