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did not identify on the return the year or years from which he
was carrying the loss to 1996. On brief, petitioner contends
that he carried forward rental property losses from 1991 and
1992. To carry forward or carry back net operating losses, the
taxpayer must prove the amount of the net operating loss
carryforward or carryback and that his or her gross income in
other years did not offset that loss. Sec. 172(c); Jones v.
Commissioner, 25 T.C. 1100, 1104 (1956), revd. and remanded on
other grounds 259 F.2d 300 (5th Cir. 1958). There is no evidence
in the record that petitioner had rental property losses or that
any losses exceeded his large amount of gross income from 1991
through 1996.
Petitioner testified that his net operating loss claim
related to a $2 million stock options loss in 2001. He did not
explain how he knew in 1998, when he filed his 1997 return, that
he would have a $2 million stock options loss in 2001. We
conclude that petitioner may not carry over any losses to 1996.
6(...continued)
stated in it. Lawinger v. Commissioner, 103 T.C. 428, 438
(1994); Wilkinson v. Commissioner, 71 T.C. 633, 639 (1979);
Roberts v. Commissioner, 62 T.C. 834, 837 (1974).
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