- 2 - MEMORANDUM FINDINGS OF FACT AND OPINION WHERRY, Judge: Respondent determined deficiencies in petitioners’ Federal income taxes for their 1999 and 2000 taxable years in the amounts of $3,347 and $4,570, respectively. The issues for decision are: (1) Whether, pursuant to section 1051, 104(a)(3), or 72 petitioners may exclude from gross income a portion of payments received by Thomas G. Wright (Mr. Wright) from the State Teachers Retirement System of Ohio (STRS) in excess of the amount determined by respondent to be nontaxable; and (2) if not, whether respondent is nonetheless barred from making adjustments to petitioners’ gross income with respect to Mr. Wright’s STRS payments for the taxable years 1999 and 2000 since respondent had previously declined to make similar adjustments in prior tax years. FINDINGS OF FACT I. Background Some of the facts have been stipulated and are so found. The stipulations of the parties, with accompanying exhibits, are incorporated herein by this reference. At the time the petition was filed, petitioners resided in Granville, Ohio. 1 Unless otherwise indicated, all section references are to the Internal Revenue Code in effect for the years in issue, and all Rule references are to the Tax Court Rules of Practice and Procedure.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011