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seek a review under section 6330(d) of respondent’s decision to
proceed with collection of petitioners’ Federal income tax
liabilities for the 1998 and 1999 tax years.2
Some of the facts were stipulated. Those facts, with the
exhibits annexed thereto, are so found and made part hereof.
Petitioners’ legal residence at the time the petition was filed
was Mariposa, California.
Petitioners claimed a low-income housing credit on each of
their 1998 and 1999 Federal income tax returns. This credit is
one element of the general business credit described in section
38(b), and the amount of the credit is calculated under section
42. The general business credit cannot exceed the excess of a
taxpayer’s net income tax over the tentative minimum tax, even if
the taxpayer is not liable for the alternative minimum tax. Sec.
38(c)(1). Petitioner husband (Mr. Giragosian) incorrectly
calculated the credit and claimed a greater amount than that
which was allowable. Sometime during 1999 and 2000, the IRS
corrected the computational error and assessed the additional
2Respondent maintains that the taxable year 1999 is not
before the Court because the petition did not set out a claim of
error regarding that year. The Court disagrees. Petitioners
properly petitioned the Court for review of 1998 as well as 1999.
Consequently, both 1998 and 1999 are properly before the Court.
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