- 20 - Jacobsen asserts that his 1986 and 1987 net worth statements should include $3,000 representing the value of the Sport. He has offered no evidence to substantiate the cost of the Sport. Mr. Del Bosque’s Sport is valued at a cost of $2,500. We conclude that Mr. Jacobsen’s 1986 and 1987 net worth statements should also include $2,500 for the Sport. Since Mr. Jacobsen disposed of the Sport in 1988, it was properly omitted from his 1988 net worth statement. b. Mr. Del Bosque’s First Bank East Account Mr. Del Bosque asserts that his 1986 net worth should be increased to reflect $12,000 in an account he had at First Bank East. Mr. Del Bosque’s financial statement dated September 5, 1986, reflects a savings account at First Bank East with a balance of $12,000 at that time. Although Agent Fisher used the financial statement to identify assets included in the 1986 net worth statement, the First Bank East account was not included as an asset in Mr. Del Bosque’s 1986 net worth statement. The existence (but not the amount) of the account is evidenced by Form 1099-INT for 1987 issued by First Bank East to “A J Del Bosque itf Wilma Del Bosque” with Mr. Del Bosque’s Social Security number shown as the taxpayer identification number. The Form 1099-INT reports that only $24.93 of interest was paid on the account in 1987, supporting Mr. Del Bosque’s testimony that he withdrew most of the money in that account early in 1987. WePage: Previous 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Next
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