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the whole amount of $132,670.30 was not deposited in the joint
checking account. Petitioner and Ms. Glenn had opened this joint
checking account before 1990. Petitioner also deposited his
paychecks in the joint checking account. However, Ms. Glenn did
not deposit her paychecks into the joint checking account;
instead, she had a separate personal checking account where she
deposited her paychecks.
During the period from July 27 through December 31, 2001,
petitioner wrote checks totaling $66,082.07 drawn on the Harris
Trust & Savings Bank joint checking account as follows:
Date Check No. Description Amount
7/27/2001 136 Payable to: Discover $2,700.00
8/1/2001 137 Payable to: Citibank 3,450.55
8/21/2001 147 Payable to: First USA 23,000.00
9/5/2001 164 Payable to: Citibank 6,938.63
9/5/2001 165 Payable to: Union Federal27,701.51
9/29/2001 185 Payable to: First USA 1,215.40
10/24/2001 204 Payable to: First USA 1,075.98
Total 66,082.07
Both petitioner’s and Ms. Glenn’s names were on their credit
cards financed through Discover, Citibank, and First USA, and
both of their names were on the home mortgage note they received
from Union Federal. Therefore, petitioner and Ms. Glenn were
jointly liable for the credit card debts and home mortgage which
were paid by the above checks.
4(...continued)
the savings account to the checking account, as needed, to cover
checks written on and withdrawals from the checking account.
Petitioner used the savings account to earn interest while the
large sum of money was not being used.
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