Maria M. Masloff - Page 2

                                                - 2 -                                                   

                                                Additions to Tax                                        
                  Year        Deficiency        Sec. 6651(a)(1)1         Sec.6654                       
                  1988        $58,987           $14,230                  $3,626                         
                  1989          4,666                  100               --                             
                  1992        123,520                  30,880            5,389                          
                  The issues remaining for decision are:                                                
                  (1) Should the determinations of respondent in the notice of                          
            deficiency (notice) that the parties have not resolved be                                   
            sustained?  We hold that they should.                                                       
                  (2) Is petitioner entitled for 1988 to a claimed loss for an                          
            alleged investment?  We hold that she is not.                                               
                  (3) Is petitioner entitled for 1988 to increase her basis in                          
            certain real property that she sold during that year?  We hold                              
            that she is not.                                                                            
                  (4) Is petitioner entitled for 1992 to deduct approximately                           
            one-half of certain mortgage interest that she paid during that                             
            year in Schedule A and one-half of such interest in Schedule E?                             
            We hold that she is not.                                                                    
                  Some of the facts have been stipulated and are so found.                              
            The stipulation of facts (stipulation) and the exhibits attached                            
            thereto are incorporated herein by this reference.                                          
                  Petitioner resided in Hesperia, California, at the time the                           
            petition was filed.                                                                         

            1  All section references are to the Internal Revenue Code in                               
            effect for the years at issue.  All Rule references are to the                              
            Tax Court Rules of Practice and Procedure.                                                  

Page:  Previous  1  2  3  4  5  Next

Last modified: May 25, 2011