- 2 -
1987 7,826 $391 391 2 9,135
1 Respondent determined the additions to tax for negligence or
intentional disregard of rules or regulations for 1986 and 1987 under sec.
6653(a)(1)(A).
2 50 percent of the interest due on the portion of the deficiency
attributable to negligence as provided by sec. 6653(a)(2) for 1985 and sec.
6653(a)(1)(B) for 1986 and 1987.
Mr. Acquaviva did not join in the petition filed by
petitioner and thus is not a party in this case. After
concessions,1 we must decide: (1) Whether petitioner tacitly
consented to the filing of joint Federal income tax returns for
each of the 3 years in issue; (2) whether payments made by Magnum
Development Corp. (Magnum), Mr. Acquaviva's real estate
development corporation, during the 1986 and 1987 taxable years
were constructive dividends; (3) whether petitioner is relieved
from joint Federal income tax liability as an "innocent spouse"
by operation of section 6013(e);2 (4) whether petitioner is
liable for an addition to tax under section 6651(a)(1) for the
taxable year 1987; (5) whether petitioner is liable for the
additions to tax for negligence under section 6653(a)(1) and (2)
for 1985 and section 6653(a)(1)(A) and (B) for 1986 and 1987; and
1 Petitioner conceded before trial that the gain
attributable to a 1986 condemnation award which her husband
received was not properly deferred under sec. 1033. On brief,
petitioner conceded that the proceeds from a 1985 involuntary
conversion were also not properly deferred under sec. 1033.
Petitioner concedes that these amounts are properly taxable to
Mr. Acquaviva.
2 All section references are to the Internal Revenue Code
in effect for the years in issue, and all Rule references are to
the Tax Court Rules of Practice and Procedure.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011