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Petitioner concedes that he is not entitled to a net
operating loss deduction in 1991 stemming from his 1990 tax year.
In his petition, petitioner asserted that he filed a Form
1040, U.S. Individual Income Tax Return, for the year 1994, which
resulted in a net operating loss eligible for carryback to 1991
of $253,889. The notice of deficiency did not cover 1994, and
petitioner on brief has abandoned this assertion. Indeed,
petitioner listed this issue as one of the issues he considered
“not in controversy” in his reply brief. Therefore, we consider
the issue conceded.
Respondent concedes that petitioner is entitled to self-
employment tax deductions for the years 1990, 1991, and 1993.
Petitioner concedes that he had interest income from Eureka
Field Nursery of $33,043 in 1991.
Petitioner concedes that the correct amount of flow-through
income from the Kiddies 38/91 partnership during 1991 is $83,419.
Petitioner concedes that his distributive share from Eureka
Field Nursery in 1990 is $43.
The parties agree on the formula to be used for calculating
interest due under section 453(l)(3) for the years 1990, 1991,
and 1992. The parties also agree that deductions allowed
petitioner for interest paid pursuant to section 453(l)(3) for
the years 1990, 1991, and 1992 will be determined under a Rule
155 computation.
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