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receiving unemployment compensation, until June 1992, when he was
no longer eligible to receive unemployment compensation.
Beginning in November 1989, petitioner rented the Karter
Street house with an option to buy. In 1990, petitioner decided
to exercise his option to buy, and between November 1990 and
February 1991, petitioner paid the owner of the Karter Street
house $10,000, which amount represented the owner's equity in the
house. In February 1991, petitioner assumed the mortgage with
AmSouth Mortgage Co. (AmSouth), which was on the Karter Street
house, and began making mortgage payments to AmSouth.
In June 1992, petitioner moved back to Huntsville. In
August 1992, he obtained employment in Huntsville, but, in
December 1992, his employment was terminated.
Petitioner deducted the following amounts on Schedule A of
his Federal income tax return for the taxable year 1990:
Deduction Amount
Medical and dental expenses $225
Gifts to charity 400
Casualty or theft loss 800
Moving expenses 4,114
Total 5,539
Respondent determined that petitioner was entitled to no
itemized deductions for 1990 since his tax computed using the
standard deduction for 1990 was less than his tax computed using
the proper amount of itemized deductions.
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