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paragraph 2 of his reply to respondent’s answer, he is deemed to
have conceded that amount. Thus, these wages are no longer in
issue.
Discussion
Summary judgment is appropriate “if the pleadings, answers
to interrogatories, depositions, admissions, and any other
acceptable materials, together with the affidavits, if any, show
that there is no genuine issue as to any material fact and that a
decision may be rendered as a matter of law.” Rule 121(b);
Sundstrand Corp. v. Commissioner, 98 T.C. 518, 520 (1992), affd.
17 F.3d 965 (7th Cir. 1994); Naftel v. Commissioner, 85 T.C. 527,
529 (1985). Summary judgment is intended to expedite litigation
and avoid unnecessary and expensive trials. See Fla. Peach Corp.
v. Commissioner, 90 T.C. 678, 681 (1988); Espinoza v.
Commissioner, 78 T.C. 412, 415-416 (1982). The moving party
bears the burden of proving that there is no genuine issue of
material fact, and factual inferences will be made in a manner
most favorable to the party opposing summary judgment. See
Dahlstrom v. Commissioner, 85 T.C. 812, 821 (1985).
As previously stated, the issues framed by the pleadings in
this case are: (1) Whether petitioner failed to report capital
gain of $60,628; (2) whether he failed to report wages of
$37,323; (3) whether he is allowed an exemption of $1,862; (4)
whether he is allowed a standard deduction of $3,175; (5) whether
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