-20-
analyses. The total deposits (including interest credited to
accounts) into petitioners’ financial accounts were as follows:
1997 1998 1999
LAIRE 00 $130,271 $15,906 $254
LAIRE 50 163,012 134,724 -0-
LAIRE 01 -0- 5,130 -0-
PFE S1 -0- 15,038 12,086
PFE S2 -0- 5,150 10,048
PFE S18 -0- 34,738 95,043
Paine Webber account 31,111 -0- -0-
Merrill Lynch account 77,045 -0- 10,000
BA 9605 65,970 59,680 64,145
BA 7417 25,977 -0- -0-
BA 1225 226,146 -0- -0-
BA 9606 367,522 -0- -0-
Total 1,087,054 270,366 191,576
As to those deposits, respondent’s bank deposits analyses
characterized the following amounts as nontaxable:
1997 1998 1999
Interaccount transfers $293,008 $129,112 $40,702
Loan receipts 22,600 -0- -0-
VISA advances 21,750 4,500 3,200
Sales tax remittances
(Jan. to Sept. 1997) 32,255 -0- -0-
Returned deposits 1,387 -0- -0-
Wedding gift -0- 5,000 -0-
Total 371,000 138,612 43,902
Respondent’s bank deposits analyses determined that the following
deposits were reported on the subject Federal income tax returns:
1997 1998 1999
Wages (less withholdings) $56,643 $54,305 $79,309
Interest 3,866 1,004 49
Dividends -0- -0- 35
Schedule C gross receipts 501,574 36,808 37,677
Schedule D sales 86,487 -0- -0-
Total 648,570 92,117 117,070
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Last modified: November 10, 2007