- 4 - proof.3 A. Income From Kmart Section 61 defines gross income as all income from whatever source derived. Gross income includes compensation for services. Sec. 61(a)(1). In 1999, petitioner received $21,078.12 in wages from Kmart. In motions, at trial, and on brief, petitioner advanced shopworn arguments characteristic of tax protester rhetoric that has been universally rejected by this and other courts. Wilcox v. Commissioner, 848 F.2d 1007 (9th Cir. 1988), affg. T.C. Memo. 1987-225; Carter v. Commissioner, 784 F.2d 1006, 1009 (9th Cir. 1986). We shall not painstakingly address petitioner’s assertions “with somber reasoning and copious citation of precedent; to do so might suggest that these arguments have some colorable merit.” Crain v. Commissioner, 737 F.2d 1417, 1417 (5th Cir. 1984). B. Losses Section 165(a) provides that there shall be allowed as a deduction any loss sustained during the taxable year and not compensated by insurance or otherwise. Section 165(c) limits the loss deduction for individuals to losses incurred in a trade or business, losses incurred in a transaction entered into for profit, and certain casualty losses. Petitioner argues that he 3 We note, however, that our resolution of this issue does not depend on which party bears the burden of proof.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
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