Miller v. Commissioner
United States Tax Court
Ps sustained a net operating loss (NOL) and an alternative minimum tax (AMT) NOL in 1985. Ps elected on their 1985 tax return as follows: "In accordance with Internal Revenue Code Section 172, the Taxpayers hereby elect to forego the net operating loss carry back period and will carryforward the net operating loss." P's then sought to carry back only their 1985 AMT NOL by filing an amended 1984 tax return.
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Ps sustained a net operating loss (NOL) and an alternative minimum tax (AMT) NOL in 1985. Ps elected on their 1985 tax return as follows: "In accordance with Internal Revenue Code Section 172, the Taxpayers hereby elect to forego the net operating loss carry back period and will carryforward the net operating loss." P's then sought to carry back only their 1985 AMT NOL by filing an amended 1984 tax return. Ps contend that the two types of NOL's from a single year may be carried into separate tax years, and that their election did not waive the carryback period as to their AMT NOL. 1. Held: In…
1Opinion of the Court
Bradley C. Miller and Dianne M. Miller, Petitioners v. Commissioner of Internal Revenue, Respondent
Miller v. Commissioner
Docket No. 7263-93
United States Tax Court
104 T.C. 330; 1995 U.S. Tax Ct. LEXIS 15; 104 T.C. No. 14;
March 20, 1995, Filed
Decision will be entered under Rule 155.
Ps sustained a net operating loss (NOL) and an alternative minimum tax (AMT) NOL in 1985. Ps elected on their 1985 tax return as follows: "In accordance with Internal Revenue Code Section 172, the Taxpayers hereby elect to forego the net operating loss carry back period and will carryforward the net operating loss."…
2Cases cited9 opinions
- Powers v. CommissionerUnited States Tax Court · 1993
- John H. Young and Carolyn J. Young v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1986
- Young v. CommissionerUnited States Tax Court · 1984
- Branum v. CommissionerCourt of Appeals for the Fifth Circuit · 1994
- Plumb v. CommissionerUnited States Tax Court · 1991
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