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1975 NOL carryforward on the Forms 1041 that he filed for 1976-
80, petitioners claimed the benefit of a 1975 NOL (the asserted
1975 NOL) carryforward on Federal income tax returns they filed
for 1989, 1990, and 1991. This Court disallowed the NOL
deductions in Beery v. Commissioner, T.C. Memo. 1996-464 (Beery
I). At issue in Beery I was whether petitioners could carry
forward a 1975 NOL more than 5 years after the loss arose. This
Court issued an opinion in Beery I on October 16, 1996, in which
we held that petitioners cannot carry forward and apply an NOL
from 1975 to offset their income for taxable years beyond 1980.
Petitioners filed Federal income tax returns for 1992, 1993,
and 1994 in which they carried forward and deducted for each year
an asserted 1975 NOL. In response to a notice of deficiency
disallowing the deductions for 1992, 1993, and 1994, on May 7,
1996, petitioners filed a petition with this Court at docket No.
8802-96. On April 9, 1997, this Court issued an order granting
respondent’s motion for summary judgment and concluding that
petitioners were not entitled to carry forward and deduct an NOL
from 1975.3
Petitioners filed Federal income tax returns for 1995, 1996,
and 1997 in which they carried forward and deducted for each year
3This Court issued an order on Oct. 24, 1997, that dismissed
Mr. Beery from the case on the ground that the petition as to him
was filed in violation of the automatic stay resulting from the
New Mexico bankruptcy proceedings.
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