- 2 -
this opinion shall not be treated as precedent for any other case.
Respondent determined a deficiency in petitioner’s 2002
Federal income tax of $6,480, as well as additions to tax under
section 6651(a)(1) and (2) of $1,082 and $842, respectively, and
section 6654(a) of $193.
After concessions,2 the issues for decision are: (1)
Whether petitioner failed to report a taxable distribution and
other income of $1,830, and $12,000, respectively, in 2002; and
(2) whether petitioner is liable for additions to tax under
sections 6651(a)(1) and 6654(a).
Background
The parties’ stipulation of facts and the attached exhibits
are incorporated herein by this reference. Petitioner resided in
Saint Paul, Minnesota, when he filed this petition.
On August 8, 2002, petitioner received $12,000 from Amex
Financial Corp. (Amex) in settlement of a class action racial
discrimination suit against Amex.3 Amex mailed petitioner a Form
1099-MISC, Miscellaneous Income, stating it paid petitioner the
$12,000 in 2003. During 2002, petitioner also received a taxable
distribution of $1,830 from the National Finance Center Thrift
Savings Plan (National).
2 Respondent concedes that petitioner is not liable for the
sec. 6651(a)(2) addition to tax.
3 Petitioner did not contend that the $12,000 was not
included in gross income under sec. 104(a)(2).
Page: Previous 1 2 3 4 5 6 7 8 Next
Last modified: March 27, 2008