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return was $788. The statute of limitations on a capital loss
carryforward arising from a bad debt deduction is 7 years. Sec.
6511(d)(1). Petitioner was in the 28 percent marginal tax
bracket in 1993. The maximum portion of an overpayment
attributable to the capital loss carryforward ($788) would be
$221.4 Consequently, we hold that petitioner is entitled to a
refund for 1993 in the amount of $221.
For 1994, respondent concedes that petitioner's tax
liability is $15,787 as shown by petitioner on his delinquent
return and that petitioner had tax withheld from his wages in the
total amount of $18,875. This results in an overpayment of
$3,088. None of this amount is claimed to be related to a
capital loss carryforward. For the reasons stated above, the tax
withheld is deemed to have been paid on April 15, 1995, and the
hypothetical claim for refund was made on September 17, 1997.
The hypothetical claim for refund, having been made more than 2
years from the date the tax was deemed paid, is time barred by
virtue of sections 6511(b)(2)(B) and 6512. Commissioner v.
Lundy, supra; Galuska v. Commissioner, supra; Allen v.
Commissioner, supra.
4The amount of the overpayment attributable to the capital
loss carryforward is the product of the full amount of the loss
carryforward times petitioner's marginal rate; i.e., $788 x .28 =
$221. Respondent agrees that petitioner is entitled to an
overpayment of $221 for 1993.
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