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Workforce falls below the minimum income level for 2002 filing
* * * of $7,700.”
Petitioner’s argument that he did not have enough income to
file a return in 2002 has no merit. Without regard to the $4,466
of unemployment compensation, petitioner had $15,227.70 of IRA
distribution income, making it necessary to file a return in that
year. He was obligated to report all of his income on that
return, including unemployment compensation received.
Accordingly, respondent’s determination as to this amount is
sustained.
Interest Income and Farmers Distribution
Section 6201(d) provides that, if the taxpayer in a court
proceeding asserts a reasonable dispute with respect to the
income reported on an information return and fully cooperates
with the Commissioner, the Commissioner shall have the burden of
producing reasonable and probative information in addition to the
information return.
Petitioner filed a Form 1040 in which he did not report the
$13 of interest income from the credit union. Petitioner
testified that the average balance in his checking account was
around $142 and that the average balance in his savings account
was around $25. Petitioner disputed that his checking account
could have earned $13 of interest income in 1 year. The records
presented at trial showed returned draft fees that apparently
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Last modified: May 25, 2011