- 9 -
For the 1989 taxable year, respondent correctly applied the
1987 overpayment of $3,341, generated from the NOL in 1989, to
petitioner’s 1989 tax liability of $1,829. The balance of the
1987 overpayment could not be applied to petitioner’s 1990
estimated tax payments because petitioner filed his 1989 return
on July 30, 1992,10 long past the 1990 taxable year during which
the estimated tax payments would be due. See sec. 6654(c)(2).
As to the 1990 taxable year, petitioner, in completing his
1990 return, applied the entire 1987 overpayment of $6,64111 as
estimated tax payments in 1990. As previously discussed,
respondent could not apply the portion of the 1987 overpayment
generated from the 1989 NOL to petitioner’s 1990 estimated tax
payments. As to the portion of the 1987 overpayment arising from
the 1990 NOL, respondent correctly applied that portion of the
1987 overpayment to petitioner’s 1990 tax liability of $817. It
is nonsensical, as petitioner requested, to apply the remaining
balance of the 1987 overpayment (generated from the 1990 NOL) to
petitioner’s 1990 estimated tax payments. Any overpayment
10 Petitioner argues that he filed his 1989 return on Nov.
26, 1990. This issue was not addressed at trial, and we will not
decide it. In any event, if we were to accept petitioner’s
filing date, petitioner still filed his 1989 return too late, as
the deadline for the third installment of his 1990 estimated tax
payment had passed. See sec. 6654(c)(2).
11 Petitioner claimed $6,611 as estimated tax payments in
1990. The reason for the $30 discrepancy is unclear from the
record, and we will apply respondent’s calculations.
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