Charles Shaw - Page 8

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          Item                  1993        1994       1995                           
               Interest income            $793        $410       $225                 
               Rental income             2,614      11,379     12,600                 
               Loans received           68,000     125,000     27,000                 
               Credit card advances       –-         4,000       –-                   
               Tax refunds                 138         278        548                 
               Insurance proceeds       25,000        –-         –-                   
               Transfers between                                                      
               accounts                  –-        27,500      3,400                  
               Real property sale       68,427        –-         –-                   
          Total amounts of deposits,                                                  
          not including deposits of                                                   
          Ms. Shaw’s income:         164,972     168,567     43,773                   
               Petitioner received no nontaxable or excludable income,                
          receipts, cash, or other assets during 1993-95, other than as               
          described above.  He received no gifts or inheritances in 1993-             
          95.3                                                                        
          C.   Petitioner’s Income Tax Returns                                        
               Petitioner and Ms. Shaw met with a representative of H & R             
          Block who prepared joint 1993 and 1994 Federal income tax returns           
          for them.  They did not take any documents to H & R Block.                  
          Petitioner and Ms. Shaw timely filed those returns.  They did not           
          report any income or deductions relating to Far Eastern on their            
          1993 or 1994 returns.  The income and expenses reported on                  



               3  Contrary to the stipulation of facts, petitioner                    
          testified that he received gifts or loans in 1993-95.  However,             
          he does not contend that he deposited those alleged gifts in his            
          bank accounts in 1993-95.  Thus, his testimony about those                  
          alleged gifts does not affect the amount of petitioner’s                    
          unreported gross receipts in 1993-95.                                       





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