Larry J. and Patricia A. Sumrall - Page 4

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          parties’ various concessions and leave the computations to be               
          disposed of pursuant to Rule 155.  The parties have stipulated              
          that petitioners are entitled to the following carryback                    
          deductions on account of NOLs if they can establish that they               
          made timely claims for credit or refund (without distinction,               
          refund) of overpayments in tax attributable to those deductions:            
               Loss Year      Carryback Year      Carryback Deduction                 
               1991           1988                     $14,113                        
               1992           1989                     31,113                         
               1992           1990                     12,810                         
          On brief, respondent concedes that petitioners made a timely                
          claim for a refund attributable to an NOL carryback to 1988 from            
          1991.  We accept that concession.  The only issue remaining for             
          decision is whether petitioners made timely claims for refunds              
          attributable to NOL carrybacks to 1989 and 1990 from 1992.                  
               Unless otherwise indicated, all section references are to              
          the Internal Revenue Code in effect for the years in issue, and             
          all Rule references are to the Tax Court Rules of Practice and              
          Procedure.  Dollar amounts have been rounded to the nearest                 
               Petitioners bear the burden of proof.  Rule 142(a).                    
                                  FINDINGS OF FACT                                    
               Some facts have been stipulated and are so found.  The                 
          stipulations of fact, with attached exhibits, are incorporated              
          herein by this reference.                                                   

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