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Respondent determined for 1997 a deficiency in petitioner's
Federal income tax of $7,781. The issue for decision is whether
petitioner's receipt of a prepayment credit for what she called
the "Black Tax" credit created a deficiency in her income tax for
the year.
Background
The stipulation of facts and accompanying exhibits are
incorporated herein by reference. Petitioner resided in
Cleveland, Ohio, at the time her petition was filed in this case.
Petitioner filed a 1997 Form 1040, U.S. Individual Income
Tax Return, as head of household showing taxable income and tax
of $0. She claimed credits for Federal withholding tax payments
of $408.25, an earned income credit of $3,210, and unspecified
"Other payments" on page 2, line 59 of $8,041. She claimed a
refund of $11,659 based upon the claimed tax payments.
Attached to her return was a Form 2439, Notice to
Shareholder of Undistributed Long-Term Capital Gains, naming
"(Black TAX)" in the space provided for the name of the regulated
investment company (RIC) or real estate investment trust (REIT).
No RIC or REIT identification number was listed in the
appropriate box. Petitioner listed her name and address in the
box provided for the "shareholder's" name and address. She
indicated on the Form 2439 total undistributed long-term capital
gains of $43,204 and claimed tax paid on the gains by the RIC or
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