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B. Transfers From PK Ventures and/or Its
Subsidiaries to PKVI LP .................... 55
1. As Described in the Business’s
Financial Statements and Income Tax
Returns ............................... 58
a. 1986 ............................. 58
b. 1987 ............................. 59
c. 1988 ............................. 60
d. 1989 ............................. 61
e. 1990 ............................. 63
f. 1991 ............................. 64
g. 1992 ............................. 66
h. 1993 ............................. 67
2. IRS Determinations .................... 67
Other Circumstances Surrounding PK Ventures’
Operations and Financial Arrangements ................ 70
A. Going Concern Notes in the Business’s
Financial Statements ....................... 70
1. PK Ventures, SLPC, TBPC, and TPTC ..... 70
2. PKVI LP ............................... 70
B. Litigation Involving SLPC, TBPC, and TPTC .. 72
C. Transfers From Rose to PK Ventures ......... 73
Rose’s Wages for 1986 Through 1993 ................... 74
A. Wages Received From Printon Kane and the
Printon Kane Group ......................... 76
B. Wages Recorded on PK Ventures’ Books and
Records .................................... 76
C. Wages Reported on Income Tax Returns ....... 79
D. IRS Determinations ......................... 82
PK Ventures’ Share of PKVI LP’s Items of Income and
Loss ................................................. 85
A. As Reported on PK Ventures’ Schedules K-1 .. 85
B. As Reported on the Income Tax Returns for
PK Ventures and PKV&S ...................... 86
C. IRS Determinations ......................... 87
The Roses’ Share of PKVI LP’s Items of Income and
Loss ................................................. 88
A. As Reported on Rose’s Schedules K-1 ........ 88
B. As Reported on the Roses’ Income Tax
Returns .................................... 89
C. IRS Determinations ......................... 92
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Last modified: May 25, 2011