112 T.C. No. 18
UNITED STATES TAX COURT
ROBERT E. WADLOW AND CONNIE V. WADLOW, Petitioners v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 21017-96. Filed May 11, 1999.
Ps engaged in horse boarding and training
activities beginning in 1989. Ps claimed deductions
related to these activities on Schedule C for their
1990, 1991, 1992, 1993, and 1994 taxable years. Ps
made valid elections on Form 5213, Election To Postpone
Determination as To Whether the Presumption Applies
That an Activity Is Engaged In for Profit, attached to
their income tax returns for 1990, 1991, 1992, and
1993. R issued notices of deficiency for Ps' 1990,
1991, 1992, 1993, and 1994 taxable years on August 15,
1996, in which deductions related to Ps' horse boarding
and training activities were disallowed. R
subsequently agreed to such deductions for 1991 and
1992 and also allowed additional deductions related to
Ps' horse boarding and training activities, resulting
in overpayments as to those years, but challenges the
Court's jurisdiction to determine and allow such
overpayments. Ps did not file amended returns or
execute Form 872 for their 1991 and 1992 taxable years.
Held: Overpayments of Ps' 1991 and 1992 Federal income
tax are not barred by the period of limitations on
credits or refunds.
Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011