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furniture business was reported, and improper deductions were
claimed for purported distributions to the other two trusts (RJ
Pendergraft Trust and In God We Trust) and for alleged business
expenses relating to petitioners’ furniture business, all of
which offset NHUSS Trust’s reported income, and resulted in no
tax liability being reported on NHUSS Trust’s tax returns.
On the 1999 and 2000 trust Federal income tax returns of RJ
Pendergraft Trust and In God We Trust, various improper
deductions were claimed for business and personal expenses that
offset the trusts’ reported income and that resulted in no tax
liability being reported.
The following schedules summarize the gross income, taxable
income (loss), and tax liability reported on the above joint
individual and trust Federal income tax returns for 1999 and
2000:
1999
Reported
Date Type of Gross Taxable Tax
Filed Return Taxpayer Income Income (Loss)Liability
04/10/00 Trust NHUSS Trust $886,784 ($69) -0-
04/10/00 Trust In God We Trust 149,180 (62) -0-
04/10/00 Trust RJ Pendergraft Trust 244,850(72) -0-
04/09/00 Joint Petitioners 4,800 -0- -0-
2000
Reported
Date Type of Gross Taxable Tax
Filed Return Taxpayer Income Income (Loss)Liability
04/10/01 Trust NHUSS Trust $805,884 ($73) -0-
04/10/01 Trust In God We Trust 169,425 (55) -0-
04/10/01 Trust RJ Pendergraft Trust 696,857(60) -0-
04/09/01 Joint Petitioners 4,800 -0- -0-
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Last modified: May 25, 2011