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FINDINGS OF FACT
In 1998, petitioner provided services to Highway Master
Corp. (HMC) and Saunders-Ream Advertising & Marketing (SRAM).
HMC and SRAM paid petitioner $3,920 and $3,140, respectively, and
issued him Forms 1099-MISC, Miscellaneous Income, reflecting such
compensation. In that same year, Salomon Smith Barney Inc. (SSB)
paid petitioner $235 of dividends and issued him a Form 1099-DIV,
Dividends and Distributions, reflecting such dividends.
In 2000, petitioner was employed by Vu Ryte, Inc. (VRI).
VRI paid petitioner $34,818 and issued him a Form W-2, Wage and
Tax Statement, reflecting this amount and $3,100 of Federal
income tax withheld.
In 2001, petitioner continued employment with VRI, received
a distribution from VRI’s retirement plan with Merrill Lynch
(ML), and was involved in real estate sales with Hexter-Fair
Title Co. (HFTC) and Community Title (CT). VRI paid petitioner
$36,332 and issued him a Form W-2 reflecting this amount and
$3,312 of Federal income tax withheld. HFTC and CT paid
petitioner $160,500 and $50,000, respectively, and issued him
Forms 1099-S, Proceeds From Real Estate Transactions, reflecting
such proceeds. ML distributed $6,174 to petitioner from his VRI
retirement plan and issued him a Form 1099-R, Distributions From
1(...continued)
all Rule references are to the Tax Court Rules of Practice and
Procedure.
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Last modified: May 25, 2011