- 10 -
spectively, of wages from JJ & P Farms, Inc. In Schedule E
included as part of petitioners’ 1994 return, petitioners re-
ported $50,400 in rent received from the rental of petitioners’
farmland and petitioners’ personal property (1994 claimed rent),
$23,015 in expenses, and $27,385 in total rental real estate
income.
In petitioners’ 1995 return, petitioners reported that Mr.
Solvie received $17,439 of wages from JJ & P Farms, Inc. In that
return, petitioners reported that Ms. Solvie received $95 of
“Wages, salaries, tips, etc.” from “MORRIS PUBLIC SCHOOLS” and
$3,410 of wages from JJ & P Farms, Inc. In Schedule E included
as part of petitioners’ 1995 return, petitioners reported a total
of $94,900 in rent received from the rental of petitioners’
farmland, including petitioners’ 800-head capacity hog barn
located on that land, as well as petitioners’ personal property
(1995 total claimed rent), $50,384 in expenses, and $44,516 in
total rental real estate income. Of the $94,900 of 1995 total
claimed rent that petitioners reported in petitioners’ 1995
return, $50,400 was attributable to petitioners’ farmland and
petitioners’ personal property (1995 claimed rent for petition-
ers’ farmland and petitioners’ personal property) and $44,500 was
attributable to petitioners’ 800-head capacity hog barn (1995
claimed rent for petitioners’ 800-head capacity hog barn).
The 1993 claimed rent and the 1994 claimed rent that peti-
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011