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C. Whether Petitioner May Carry Forward a Capital Loss From
1997 to 1998
Petitioner contends that he may carry forward to 1998 a
$15,547 capital loss from 1997. We disagree.
Petitioner reported on his 1997 return that he had a $15,547
net operating loss carryover. He did not identify on the return
or testify about the year or years from which he was carrying
that loss. To carry forward or carry back net operating losses,
the taxpayer must prove the amount of the net operating loss
carryforward or carryback and that his or her gross income in
other years did not offset that loss. Sec. 172(c); Jones v.
Commissioner, 25 T.C. 1100, 1104 (1956), revd. and remanded on
other grounds 259 F.2d 300 (5th Cir. 1958). A tax return is not
evidence of the truth of the facts stated in it. Lawinger v.
Commissioner, 103 T.C. 428, 438 (1994); Wilkinson v.
Commissioner, 71 T.C. 633, 639 (1979); Roberts v. Commissioner,
62 T.C. 834, 837 (1974). Petitioner did not establish the amount
of his 1997 net operating loss or that his income in the
carryback years before 1997 did not fully offset any net
operating loss.
We conclude that petitioner may not carry forward a net
operating loss from 1997 to 1998.
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