Scott William Katz - Page 5

                                        - 5 -                                         
               As we understand the parties’ contentions, it is not                   
          necessary for us to know more of the facts in order to determine            
          whether or not petitioner is subject to the alternative minimum             
          tax for 2000.  In light of the foregoing and petitioner’s                   
          assertion that he does not dispute the correctness of                       
          respondent’s calculations, we conclude that there is no genuine             
          issue as to any material fact, within the meaning of Rule 121(b).           
               Accordingly, we proceed to consider whether a decision may             
          be rendered as a matter of law.                                             
          3.  Alternative Minimum Tax                                                 
               Section 55 imposes a tax--the alternative minimum tax--equal           
          to the excess (if any) of the tentative minimum tax over the                
          regular tax.5  Sec. 55(a).  Petitioner’s regular tax is zero, and           
          so his alternative minimum tax is his full tentative minimum tax.           
          Using Form 6251 (Alternative Minimum Tax--Individuals),                     
          respondent added back petitioner’s appropriate itemized                     
          deductions to the amount by which petitioner’s total itemized               
          deductions exceeded his adjusted gross income.  This operation              
          resulted in petitioner’s alternative minimum taxable income (sec.           
          55(b)(2)) being $38,707.  From this amount, respondent subtracted           
          petitioner’s exemption amount.  For 2000, in the case of a                  
          married person filing separately, this was $22,500.  Sec.                   

               5  For a brief history of the original “minimum tax” and its           
          eventual replacement by the “alternative minimum tax”, see                  
          Huntsberry v. Commissioner, 83 T.C. 742, 748-752 (1984).                    





Page:  Previous  1  2  3  4  5  6  7  8  Next

Last modified: May 25, 2011