T.C. Memo. 2006-256
UNITED STATES TAX COURT
DANNY HOLLOWAY AND PATTI BAIN HOLLOWAY, Petitioners v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 20881-04. Filed November 28, 2006.
Danny and Patti Bain Holloway, pro sese.
Elke B. Esbjornson, for respondent.
MEMORANDUM OPINION
HOLMES, Judge: Everyone agrees that Danny and Patti
Holloway are entitled to a credit on their 2002 income tax for an
investment in “closed loop biomass projects.” The question is
whether that credit should be the $34,500 they claim or only a
much smaller amount (less than $4,000) that the Commissioner is
willing to allow them after taking into consideration the
alternative minimum tax.
Page: 1 2 3 4 5 6 7 8 9 10 Next
Last modified: May 25, 2011