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This matter is before the Court on the parties’ cross-
motions for partial summary judgment under Rule 121.2 The issue
for decision is whether petitioners are liable for a tax
liability that petitioners reported on their Form 1040X, Amended
U.S. Individual Income Tax Return, for the taxable year 1994
(amended return). We hold that they are. Accordingly, as
explained in detail below, we shall grant respondent’s motion for
partial summary judgment and deny petitioners’ motion for partial
summary judgment.
Background
The record establishes and/or the parties do not dispute the
following:
At the time that the petition was filed, petitioners
(hereinafter referred to individually as Mr. Rehberg or Mrs.
Rehberg) resided in Bothell, Washington.
On October 19, 1994, petitioners sold their home near
Seattle, Washington.3 Petitioners realized a gain of $53,226
from the sale of their home.4
On or about April 14, 1995, petitioners timely filed a joint
2 All Rule references are to Tax Court Rules of Practice
and Procedure.
3 The evidence indicates that petitioners sold the house
because they needed funds for Mrs. Rehberg’s extensive medical
bills. Since 1988, Mrs. Rehberg has been suffering from
progressive-remissive multiple sclerosis.
4 All amounts are rounded to the nearest dollar.
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