Cox v. Commissioner

1980 T.C. Memo. 244, 40 T.C.M. 619, 1980 Tax Ct. Memo LEXIS 343
CourtUnited States Tax Court
DecidedJuly 9, 1980
DocketDocket No. 10861-78.
StatusUnpublished

This text of 1980 T.C. Memo. 244 (Cox v. Commissioner) is published on Counsel Stack Legal Research, covering United States Tax Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Cox v. Commissioner, 1980 T.C. Memo. 244, 40 T.C.M. 619, 1980 Tax Ct. Memo LEXIS 343 (tax 1980).

Opinion

ALMEDA COX, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent.
Cox v. Commissioner
Docket No. 10861-78.
United States Tax Court
T.C. Memo 1980-244; 1980 Tax Ct. Memo LEXIS 343; 40 T.C.M. (CCH) 619; T.C.M. (RIA) 80244;
July 9, 1980, Filed
*343

Petitioner applied for and received tentatives refunds of income taxes paid in 1972 and 1973 as a result of alleged net operating loss carryback deductions from 1975 and 1976, respectively. Respondent later determined that after certain adjustments petitioner's net operating loss for 1975 was much less than claimed by petitioner in her refund application and that petitioner did not have a net operating loss for 1976. Deficiency determinations for carryback years 1972 and 1973 resulted.

Held, the sources and applications of funds method is an acceptable method of income reconstruction, was applicable to the instant case and was properly applied by respondent to petitioner's 1975 taxable year; heldfurther, petitioner is not entitled to depreciation deduction in 1975 which would have reduced her adjusted basis in the depreicated asset below a reasonable salvage value; heldfurther, the correct amount of net operating loss carryback deduction from 1975 determined; heldfurther, petitioner did not have a net operating loss for 1976; heldfurther, petitioner is not entitled to a jury trial; heldfurther, this Court is without jurisdiction to award court costs to petitioner.

Almeda *344 Cox, pro se.
Diane L. Fox, for the respondent.

BRUCE

MEMORANDUM FINDINGS OF FACT AND OPINION

BRUCE, Judge: Respondent determined deficiencies of $1,022.61 and $869.02 in petitioner's Federal income taxes for taxable years 1972 and 1973, 1 respectively, as set forth in his statutory notice of deficiency dated June 26, 1978. Due to the absence of concessions by the parties in this matter and due to the broad sweep of petitioner's request for deficiency redetermination set forth in her petition 2 in this case, many issues are presented for our decision: (1) whether petitioner is entitled to a net operating loss carryback from 1975 to 1972 in an amount greater than $64.26 which entails (a) whether respondent's method of income reconstruction which found petitioner's gross income understated by $3,532.69 was proper, (b) whether petitioner was entitled to a depreciation deduction on a piano, and (c) whether petitioner properly applied the carryback of the net operating loss; (2) whether petitioner is entitled to a net operating loss carryback from 1976 to 1973; (3) whether petitioner was entitiled to a trial by jury in this case; and (4) whether petitioner is entitled to payment of witness *345 costs or other costs of pursuing this court action.

FINDINGS OF FACT

Petitioner was a resident of Ossian, Indiana at all times relevant to this case. She timely filed her joint Federal income tax returns, with her husband, for the taxable years 1972, 1973, 1975 and 1976 with the Internal Revenue Service Center in Memphis, Tennessee. During those years, petitioner operated as a sole proprietorship *346 a florist shop in Ossian known as Echo Gardens Florist.

Petitioner's Federal income tax returns for 1975 and 1976 contained the following figures:

1975
1976
Form 1040 - line 11 - Interest Income$ 142.47
$ 218.89
line 32(b) - Fully
taxable pensions and
annuities
8,631.00
Schedule A - Itemized deductions520.61
Schedule C - Profit or (Loss) From
Business or Profession7,106.99
(4,000.92)
Schedule E - Supplemental Income
Part I - Pensions and Annuities2,955.60
Part III - Income or (Loss) from
Estates, etc.
(1,209.33)
Schedule F - Farm Income and Expenses154.44

Three personal exemptions, including one for petitioner's blindness, were claimed correctly in calculating taxable incomes for 1975 and 1976 on each of the returns. Petitioner also included these three personal exemptions in calculating the net operating loss carryback from 1975 to 1972. Included in the business loss shown on Schedule C of petitioner's 1975 return was a $400.00 depreciation deduction claimed on a piano acquired in 1973 for $1,245.00 on which prior years' depreciation deductions of $800.00 had been taken.

On January 26, 1976, petitioner filed Form 1045, Application for Tentative Refund, requesting a net operating loss carryback *347 deduction to 1972 from 1975 in the amount of $6,625.09.

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Bluebook (online)
1980 T.C. Memo. 244, 40 T.C.M. 619, 1980 Tax Ct. Memo LEXIS 343, Counsel Stack Legal Research, https://law.counselstack.com/opinion/cox-v-commissioner-tax-1980.