David G. Turner - Page 5

                                        - 5 -                                         
               On October 30, 2002, respondent issued a notice of                     
          deficiency to petitioner with respect to his 1999 taxable year.             
          Respondent computed petitioner’s 1999 income using third-party              
          information returns.  After concessions, the adjustments to                 
          petitioner’s income include:                                                

                     Form and Payor             Amount Paid                           
                     W-2, PFS                $60,331.68                               
                     1099B, CitiBank, N.A.          25.00                             
                     1099-DIV, Hershey       162.97                                   
                     Foods Corp.                                                      
                     1099-DIV, SouthTrust    1,973.70                                 
                     Corp.                                                            
                     1099-DIV, Colonial      1,793.52                                 
                     BancGroup, Inc.1                                                 
                     1099-DIV, CitiCorp      73.00                                    
                     Preferred Series                                                 
                     1099-INT, Colonial           65.00                               
                     Bank 22                                                          
                     Total                   64,424.87                                


                    1 The notice of deficiency indicated that                         
                    Colonial BancGroup filed two separate Form                        
                    1099-DIV information returns, but attached to                     
                    petitioner’s 1999 Form 1040 was a copy of a                       
                    single Form 1099-DIV which aggregated the                         
                    amounts on the two received by respondent.                        
          The notice of deficiency also determined the addition to tax                
          under section 6651(a)(1) and the penalty under section 6662(a)              
          and (b)(1).                                                                 







Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  Next

Last modified: May 25, 2011