- 2 - Additions to Tax Year Deficiency Sec. 6653(a)(1)(A) Sec. 6653(a)(1)(B) Sec. 6661 1987 $5,503 $275 50 percent of the $1,376 interest due on $5,503 The issues for decision are: (1) Whether petitioners are entitled to a deduction of $9,643 in 1987 for car and truck expenses; (2) whether petitioners have proven that they are entitled to a basis in their shares of La-Z-Boy stock sold during 1985 that is in excess of the basis determined by respondent; (3) whether petitioners are liable for an addition to tax under section 6651(a)(1)1 for delinquent filing of their 1985 Federal income tax return; (4) whether petitioners are liable for an addition to tax under section 6653(a) for negligence or intentional disregard of rules or regulations for the taxable years 1985 and 1987; and (5) whether petitioners are liable for an addition to tax for a substantial understatement of income tax under section 6661(a) for the taxable years 1985 and 1987. Background Petitioners resided in Washington, Pennsylvania, at the time the petition was filed. Fritz Tree Service 1Unless otherwise indicated, all section references are to the Internal Revenue Code in effect for the taxable 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 Next
Last modified: May 25, 2011