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On the Form 433-A, petitioner listed the following assets:
Asset Current Balance/Value Loan Balance
Checking accounts $881 n/a
Savings accounts 53 n/a
401(k) plan account 107,449 -0-
Life insurance 4,975 $1,737
1998 Chevrolet 2,465 303
Lumina
1991 Chevrolet S-10 450 -0-
1988 Pontiac -0- -0-
Grand Prix
House 200,000 164,155
Total 316,273 166,195
The reported value of the section 401(k) plan account reflected
only 70 percent of its then-current value. The reported value of
the life insurance reflected its then-current cash value. The
loan balance on the house included the balance on a mortgage
($121,155), and the balance on a home equity line of credit
($43,000).
Petitioners reported gross monthly income of $5,252,
representing Mr. Andrews’s wage income of $2,382, and Mrs.
Andrews’s pension/Social Security income of $2,870. Petitioners
also reported the following monthly living expenses:
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Last modified: May 25, 2011