- 4 -
During 1996, in addition to the distribution from the plan,
withdrawals totaling $31,700 were made from retirement accounts
held by petitioner or Ronald R. Weight. It appears that these
withdrawals were used in connection with the purchase of a house
by petitioner and Mr. Weight. Presumably, this house is the
“principal residence” referred to in the form.
Petitioner’s Federal income tax return (the separate return)
was timely filed. The separate return was prepared by a paid
income tax return preparer. On the separate return, petitioner
listed her filing status as a head of household. She claimed
dependency exemption deductions for Aaron Weight and Sarah
Weight. She elected to itemize deductions and claimed deductions
for mortgage interest and real estate taxes in the amounts of
$10,476 and $2,165, respectively. Deductions claimed exceed
income reported; consequently there is no section 1 income tax
liability reported on the return. Taking into account an earned
income credit of $2,870 and withholdings, she claimed a refund of
$3,767, which she apparently received in due course.
The divorce decree, which was issued after the separate
return had been filed, provides that petitioner and Mr. Weight
“shall jointly file 1996 State and Federal tax returns” and that
each “shall be responsible for one half of any liability owing on
those joint returns”. In this regard, petitioner and Mr. Weight
filed an untimely joint Federal income tax return (the joint
Page: Previous 1 2 3 4 5 6 7 8 9 Next
Last modified: May 25, 2011