Allan & Judy N. Green - Page 9

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          before 1998, the first year in issue, and that respondent                   
          determined in the notice of deficiency that the 15-year carryover           
          period had expired, we cannot fathom how petitioners could                  
          otherwise establish their entitlement to deduct any part of the             
          subject NOL carryovers were they not to substantiate the                    
          composition of those carryovers.                                            
               Petitioners have made no attempt to substantiate their                 
          claimed deductions of NOL carryovers,6 and the record does not              
          establish that any portion of an NOL that petitioners incurred              
          before 1998 was applied properly to 1998 or 1999.  Petitioners              
          must prove not only that they had an NOL in a year before 1998,             
          but that a portion of an NOL was properly deductible in 1998                
          and/or 1999.  See Jones v. Commissioner, supra; see also sec.               
          6001; sec. 1.6001-1(a), (e), Income Tax Regs. (taxpayers must               
          keep sufficient records to establish the amount of any item                 
          reported on their Federal income tax returns).  Although                    
          petitioners have consistently attempted to manifest on their tax            
          returns for at least 1988 through 1999 that they were carrying              
          over NOLs to those returns, these representations are not enough            
          for petitioners to meet their burden.7  Wilkinson v.                        

          6 Petitioners, for example, have failed to introduce any                    
          evidence establishing the years in which they purportedly                   
          incurred NOLs or the amount of those purported NOLs.                        
          7 In fact, petitioners calculated incorrectly the amounts of                
          those represented NOL carryovers; e.g., petitioners included in             

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