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COLVIN, Judge: Respondent determined a deficiency in
petitioners’ 2001 Federal income tax of $3,698.
Petitioner wife was a tenant-stockholder in a cooperative
housing corporation. After concessions, the sole issue for
decision is whether a deduction allowed under section 216(a)(1)
for petitioner wife’s share of the real estate taxes paid by a
cooperative housing corporation reduces alternative minimum
taxable income.1 We hold that it does not.
Section references are to the Internal Revenue Code in
effect for the year in issue. Rule references are to the Tax
Court Rules of Practice and Procedure.
FINDINGS OF FACT
The parties submitted this case fully stipulated under Rule
122.
Petitioners resided in New York, New York, when they filed
their petition.
Lauren Ostrow (petitioner) was a tenant-stockholder of a
cooperative housing corporation in 2001. Petitioners deducted
$10,489, which was petitioner’s proportionate share of real
estate taxes paid by the corporation, as a miscellaneous itemized
deduction. In computing their alternative minimum tax liability,
1 Respondent first raised this issue in the answer. See
Rule 142(a)(1). We need not consider which party bears the
burden of proof because the issue is one of law.
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