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petitioner to realize an AMT capital loss of $679,825. However,
pursuant to section 83(b)(1) and section 1.83-2(a), Income Tax
Regs., petitioner cannot recognize the $679,825 AMT capital loss.
Because petitioner fails to satisfy the requirement under
section 1341(a) that the taxpayer is entitled to a deduction
under another section of the Code for the loss, we need not
consider whether petitioner satisfies other requirements of
section 1341, e.g., whether petitioner had an unrestricted right
in the nonvested Ariba stock in the year he made the section
83(b) election.
F. Carryback of AMT Capital Losses
Petitioner argues he may carry back capital losses pursuant
to section 1211 to reduce the amount of his AMTI for 2000 and
that he may carry back an AMTNOL to reduce the amount of his AMTI
for 2000. Similar arguments, by the same counsel, have been
rejected in Merlo v. Commissioner, 126 T.C. 205 (2006),
Montgomery v. Commissioner, 127 T.C. 43 (2006), and Spitz v.
Commissioner, T.C. Memo. 2006-168. Consistent with these cases,
the Court finds petitioner may not carry back his AMT capital
losses to reduce his AMTI in 2000, and petitioner may not claim
an AMTNOL carryback to reduce his AMTI for 2000. See Merlo v.
Commissioner, supra.
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