- 157 -
Appendix A
INCOME AND DEDUCTIONS REPORTED BY PETITIONER ON RETURNS
RESPONDENT’S DETERMINATIONS OF INCOME AND DEDUCTIONS IN THE
STATUTORY NOTICE OF DEFICIENCY
1985:
Schedule C Income
Amount Reported Amount Determined Total Adjustment
$160,363 $448,498 $288,135
Deduction Allowed in
Description of Deduction Deduction Claimed Notice of Deficiency
Schedule C
Car and truck expenses $7,712 - 0 -
Commissions 26,840 - 0 -
County recording fee expense --- $640
Depreciation and sec. 179
deduction from Form 4562 2,300 3,575
Development expense --- 437
Dues and publications 3,677 - 0 -
Engineering expense --- 4,060
Insurance 1,277 - 0 -
Legal and professional services 9,282 3,609
Office expense 6,996 316
Other interest 43,291 178,435
Repairs & maintenance 23,157 - 0 -
Taxes 9,073 29,955
Title insurance expense --- 8
Travel and entertainment 15,688 - 0 -
Utilities and telephone 3,188 - 0 -
Total 152,481 221,035
Itemized Deductions
Reported by petitioner ---
Determined by respondent $22,567
Personal Exemptions
Reported by petitioner (2)$2,080
Determined by respondent (2) $2,080
Taxable Income
Reported by petitioner $5,802
Determined by respondent $202,816
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