Robert E. Wadlow and Connie V. Wadlow - Page 1















                                   112 T.C. No. 18                                    



                               UNITED STATES TAX COURT                                

                ROBERT E. WADLOW AND CONNIE V. WADLOW, Petitioners v.                 
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket No.  21017-96.                    Filed May 11, 1999.           
                    Ps engaged in horse boarding and training                         
               activities beginning in 1989.  Ps claimed deductions                   
               related to these activities on Schedule C for their                    
               1990, 1991, 1992, 1993, and 1994 taxable years.  Ps                    
               made valid elections on Form 5213, Election To Postpone                
               Determination as To Whether the Presumption Applies                    
               That an Activity Is Engaged In for Profit, attached to                 
               their income tax returns for 1990, 1991, 1992, and                     
               1993.  R issued notices of deficiency for Ps' 1990,                    
               1991, 1992, 1993, and 1994 taxable years on August 15,                 
               1996, in which deductions related to Ps' horse boarding                
               and training activities were disallowed.  R                            
               subsequently agreed to such deductions for 1991 and                    
               1992 and also allowed additional deductions related to                 
               Ps' horse boarding and training activities, resulting                  
               in overpayments as to those years, but challenges the                  
               Court's jurisdiction to determine and allow such                       
               overpayments.  Ps did not file amended returns or                      
               execute Form 872 for their 1991 and 1992 taxable years.                
               Held: Overpayments of Ps' 1991 and 1992 Federal income                 
               tax are not barred by the period of limitations on                     
               credits or refunds.                                                    







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