Neil D. and Vy Lubart - Page 2

                                        - 2 -                                         

          deficiency in petitioners' Federal income tax of $22,553 for the            
          taxable year 1992, and an addition to tax under section                     
          6651(a)(1) of $100 for failure to timely file.  The term                    
          "petitioner" refers to Neil D. Lubart.                                      
               The issue for decision is whether petitioner may exclude               
          from gross income under section 104(a)(2) amounts received from             
          his employer upon termination of his employment on the ground               
          that such amounts represented damages received on account of                
          personal injury.  At the time the petition in this case was                 
          filed, petitioners resided in Austin, Texas.                                
               A motion for summary judgment is appropriate "if the                   
          pleadings, answers to interrogatories, depositions, admissions,             
          and any other acceptable materials, together with the affidavits,           
          if any, show that there is no genuine issue as to any material              
          fact and that a decision may be rendered as a matter of law."               
          Rule 121(b); Sundstrand Corp. v. Commissioner, 98 T.C. 518, 520             
          (1992), affd. 17 F.3d 965 (7th Cir. 1994).  The moving party                
          bears the burden of proving that there is no genuine issue of               
          material fact, and factual inferences are viewed in the light               
          most favorable to the nonmoving party.  United States v. Diebold,           
          Inc., 369 U.S. 654, 655 (1962); Preece v. Commissioner, 95 T.C.             
          594, 597 (1990).  The opposing party cannot rest upon mere                  

          otherwise indicated.  All dollar amounts are rounded to the                 
          nearest dollar, unless otherwise indicated.                                 

Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  Next

Last modified: May 25, 2011