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Tax Court Rules of Practice and Procedure, and dollar amounts are
rounded to the nearest dollar.
We decide this case without trial. See Rule 122.
Petitioners petitioned the Court to redetermine a $19,728
deficiency in their 2000 Federal income tax and a $4,608
accuracy-related penalty under section 6662(a). Following
concessions by both parties, the sole issue left to decide is
whether petitioners’ 2000 taxable income includes $88,885 of
pension income not otherwise included in that taxable income. We
hold it does.
Background
The facts in this background section are obtained from the
parties’ stipulation of facts and the exhibits submitted
therewith. Petitioners are cash method taxpayers who resided in
Croatia when their petition was filed with this Court.
Petitioners filed a joint 2000 Federal income tax return on
which they reported the following items of income realized by
them during 2000:
Wages $5,209
Taxable interest 126
Taxable pension 11,716
17,051
Petitioners reported as to the taxable pension income that
petitioner Ivan Mirosevic (Mirosevic) had received $117,164 of
pension payments during that year but that only $11,716 of those
payments was taxable. During 2000, Mirosevic received $100,601
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Last modified: May 25, 2011