- 9 -
controversy “if the pleadings, answers to interrogatories,
depositions, admissions, and any other acceptable materials,
together with the affidavits, if any, show that there is no
genuine issue as to any material fact and that a decision may be
rendered as a matter of law.” Rule 121(a) and (b); Sundstrand
Corp. v. Commissioner, 98 T.C. 518, 520 (1992), affd. 17 F.3d 965
(7th Cir. 1994).
After reviewing the record, we are satisfied that there is
no genuine issue as to any material fact, and a decision may be
rendered as a matter of law. Accordingly, we shall grant
respondent’s Motion For Summary Judgment.
A. Section 119 Exclusion
Unless otherwise specifically excluded, gross income
includes all income from whatever source derived, including
compensation for services. Sec. 61(a)(1). Compensation for
services includes income realized in any form, including money,
property, or services. Sec. 1.61-2(d)(3), Income Tax Regs.
Thus, the value of lodging furnished to an employee by his or her
employer is, as a general rule, includable in the employee’s
gross income. Id.
However, under an exception to the general rule, the value
of lodging furnished to an employee by his or her employer may be
excluded from gross income if certain conditions are satisfied.
Sec. 119(a). Thus, to exclude the value of lodging, (1) the
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next
Last modified: November 10, 2007