T.C. Memo. 2002-25
UNITED STATES TAX COURT
ANN M. LASSITER AND ESTATE OF HENRY A. LASSITER, DECEASED,
ANN M. LASSITER, ADMINISTRATRIX, CTA, Petitioners v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 7324-00. Filed January 25, 2002.
H and W deducted net operating losses (NOL) on
their joint Federal income tax return for 1994, the
year in which H died. The NOLs, all of which were
attributable to H’s business activities, arose before
and during H’s bankruptcy proceeding under ch. 11 of
the Bankruptcy Code. The bankruptcy proceeding
terminated in 1994 after H’s death. Pursuant to Fed.
R. Bankr. P. 1016, the proceeding was continued and
concluded after H’s death as though he had not died.
Held: Secs. 172(b)(1) and 1398(i), I.R.C., permit
the deduction of the NOLs on the joint return.
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