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adjusted gross income adjustment in the amount of $1,113; and (3)
a related self-employment tax of $2,226.
For purposes of this case, respondent has now stipulated
that petitioners are entitled to claim, as to both the years 1991
and 1992, Schedule C expenses in excess of the amounts claimed on
the respective returns and disallowed in the deficiency notices,
and that they are liable for no self-employment tax for those
years.
The result of the above-mentioned stipulation is that (1)
petitioners' total corrected income tax liability for 1991 is
$6,969, resulting in an overpayment of $322; and (2) petitioners'
total corrected income tax liability for 1992 is $8,933, also
resulting in a $322 overpayment.
Petitioners did not file amended returns or claims for
refund on Form 872 for 1991 and 1992, nor did they agree in
writing with respondent to extend the respective periods of
limitation for assessment for either year.
The bottom line issue for determination is whether
petitioners can recover overpayments in tax for their 1991 and
1992 taxable years. In general, we have jurisdiction to
determine the amount of an overpayment in income tax for a
taxable year where we find "that there is no deficiency and
further * * * [find] that the taxpayer has made an overpayment of
income tax for the same taxable year". Sec. 6512(b)(1). When
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