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documents surrounding the purchase of the Tamarac Property
because petitioner was "on disability" and unable to secure a
mortgage in his own name. Petitioner further alleged that
Rueben Moreno used petitioner's money as the downpayment on the
Tamarac Property, and that he and Rueben Moreno intended for
petitioner to own the Tamarac Property.
The Court served petitioner on September 20, 1996, with a
notice setting this case for trial at the trial session beginning
on February 24, 1997, in San Diego, California. On February 24,
1997, petitioner's case was called for trial. Petitioner failed
to appear either in person or by representative. Respondent's
counsel appeared and submitted this case to the Court fully
stipulated. At this time she informed the Court that a
representative of petitioner had notified her that petitioner
wanted to submit his case to the Court under Rule 122.
By Order dated February 24, 1997, we directed the parties to
file with the Court on or before March 26, 1997, memoranda of
points and authorities. Respondent filed her memorandum of
authorities with the Court on March 7, 1997. Petitioner did not
filed a memorandum of points and authorities with the Court.
Discussion
Section 1034(a) allows an individual to defer the
recognition of all or part of any gain realized on the sale of a
principal residence if other property is purchased and used by
the taxpayer as a new principal residence within the period
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