- 2 -2
1994. On April 1, 1997, we granted respondent's motion to
consolidate the Rozpads' and the DiBiasios' cases.
Unless otherwise indicated, 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. The issues for decision are:
1. Whether portions of the proceeds received by petitioners
in their respective settlements of tort actions are excludable
from gross income under section 104(a)(2). We hold that they are
not excludable.
2. Whether petitioners may, pursuant to section 212, deduct
attorney's fees and costs relating to their respective
settlements. We hold that they are entitled to deduct such fees
and costs.
3. Whether the 3-year statute of limitation bars respondent
from assessing and collecting the deficiency relating to the
DiBiasios' 1989 tax year. We hold that it does not.
FINDINGS OF FACT
The parties submitted these cases fully stipulated pursuant
to Rule 122. At the time the Rozpads filed their petition, they
resided in Riverside, Rhode Island. At the time the DiBiasios
filed their petition, they resided in Cranston, Rhode Island.
The Rozpads
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011