- 17 -
Section 61(a) defines gross income as “all income from
whatever source derived”. Petitioners offered no evidence or
argument to support any claim that the use of funds from Mr.
Broedel’s NYRS retirement account to satisfy his loan was not
taxable income. On the basis of the evidence before us, we hold
that petitioners realized $13,393.54.
Decision will be entered
for respondent.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
Last modified: May 25, 2011