Stephens v. Comm'r

1969 T.C. Memo. 51, 28 T.C.M. 290, 1969 Tax Ct. Memo LEXIS 242
CourtUnited States Tax Court
DecidedMarch 17, 1969
DocketDocket No. 6549-66.
StatusUnpublished

This text of 1969 T.C. Memo. 51 (Stephens v. Comm'r) 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
Stephens v. Comm'r, 1969 T.C. Memo. 51, 28 T.C.M. 290, 1969 Tax Ct. Memo LEXIS 242 (tax 1969).

Opinion

Joseph W. G. Stephens, Jr. v. Commissioner.
Stephens v. Comm'r
Docket No. 6549-66.
United States Tax Court
T.C. Memo 1969-51; 1969 Tax Ct. Memo LEXIS 242; 28 T.C.M. (CCH) 290; T.C.M. (RIA) 69051;
March 17, 1969, Filed
*242

Held, respondent correctly disallowed $600 (personal exemption) of a net operating loss of $688.38 for the calendar year 1963 claimed by petitioner on his "Application For Tentative Carryback Adjustment" to the calendar year 1961 under the provisions of section 172, I.R.C. 1954, after the respondent had previously tentatively allowed a net operating loss carryback of $688.38 from 1963 to 1961 under the provisions of sections 6411, I.R.C. 1954.

Joseph W. G. Stephens, Jr., pro se, 324 W. Hunting Towers, Alexandria, Va. Joseph N. Ingolia, for the respondent.

STERRETT

[Memorandum Findings of Fact and Opinion]

STERRETT, Judge: 1*243 Respondent determined a deficiency in income tax for the calendar year 1961 in the amount of $49.

Prior to trial on the merits, several hearings were held on procedural matters of which no further reference will be made. The only issue involved is whether the respondent correctly disallowed $600 (personal exemption) of a net operating loss of $688.38 for the calendar year 1963 claimed by petitioner on his "Application For Tentative Carryback Adjustment" to the calendar year 1961 under the provisions of section 172, I.R.C. 1954, 2 after the respondent had previously tentatively allowed a net operating loss carryback of $688.38 from 1963 to 1961 under the provisions of section 6411.

Findings of Fact

Petitioner is an individual who resided in Alexandria, Virginia, at the time of the filing of his petition. He duly filed his Federal income tax return for the calendar year 1961 with the district director of internal revenue in Richmond, Virginia.

Petitioner was self-employed. His principal business activity was operating an advertising and sample distribution service.

On his Federal income tax return for 1961, petitioner reported *244 a total income of $1,355.02 made up of the following:

Interest and rent$ 494.39
Business income 860.63
Total income$1,355.02

Petitioner elected to compute his tax on his total income which was also his adjusted gross income in accordance with the table shown in section 3, I.R.C. 1954, as amended, and in force on January 3, 1961. This table provided that if the adjusted gross income is at least $1,350 but less than $1,375, the tax is $125.

On Schedule C-3 of his return, petitioner computed his social security self-employment tax on his self-employment income as being $19.60, which he added to the $125 making a total tax for the year 1961 of $144.60.

On September 3, 1964, petitioner filed a Federal income tax return for the calendar year 1963 and on page 1 thereof reported a loss of $688.38 made up of the following:

Interest Income$ 77.39
Rents, etc. Loss (77.90)
Total Loss(00.51)
Itemized deductions 87.87
Subtract deductions(88.38)
Personal exemption 600.00
Subtract exemption Loss(688.38)

Also on September 3, 1964, petitioner filed on Form 1045 an "Application For Tentative Carryback Adjustment" of a net operating loss of $688.38 from 1963 to 1961. Accompanying this application was a handwritten *245 letter dated September 3, 1964, from petitioner to Edna E. Carver, the body of which is as follows:

Dear Miss Carver

Reference your last letter of May 17, 1963 (Code 2113-IRS).

Please find enclosed my Application for Tentative Carryback Adjustment for 1963 (Form 1045).

I have completed this form to the best of my ability but since I do not understand it in its entirety I will trust to you to send me an analyses of the amount of refund due me, if any, similar to the analysis in your May 17, 1963 letter.

I hope you will be able to accommodate me in this matter.

Thank you,

On November 2, 1964, which was within the 90-day period specified in section 6411 (b)

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1969 T.C. Memo. 51, 28 T.C.M. 290, 1969 Tax Ct. Memo LEXIS 242, Counsel Stack Legal Research, https://law.counselstack.com/opinion/stephens-v-commr-tax-1969.