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be entered is not reviewable by any other court, and this opinion
should not be cited as authority.
Respondent determined a deficiency in petitioner’s Federal
income tax for the taxable year 2001 of $9,427 and an accuracy-
related penalty under section 6662(a) of $1,885.
The issues for decision are:
(1) Whether petitioner received unreported discharge of
indebtedness income of $31,327 in taxable year 2001. We hold
that he did.
(2) Whether petitioner is liable under section 6662(a) for
an accuracy-related penalty. We hold that he is not.
Adjustments to the amount of petitioner’s itemized
deductions, child tax credit, and alternative minimum tax are
purely computational matters, the resolution of which is
dependent on our disposition of the first disputed issue.
Background
Some of the facts have been stipulated, and they are so
found. We incorporate by reference the parties’ stipulation of
facts and accompanying exhibits.
At the time that the petition was filed, petitioner resided
in Topeka, Kansas.
In 1984, petitioner obtained a credit card from MBNA America
Bank (MBNA), which he used on occasion over the next 15 years.
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