Johnson v. Commissioner
United States Tax Court
Petitioner-husband was an active participant in one employer's tax-qualified profit-sharing plan until Mar. 14, 1975. He became an active participant in a second employer's tax-qualified profit-sharing plan on Apr. 1, 1976. On Dec. 22, 1975, he opened an individual retirement account (an IRA) and contributed $ 1,500 to it. Petitioners did not claim any deduction on account of the $ 1,500 contribution, and included in their gross income the interest earned by the account.
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Petitioner-husband was an active participant in one employer's tax-qualified profit-sharing plan until Mar. 14, 1975. He became an active participant in a second employer's tax-qualified profit-sharing plan on Apr. 1, 1976. On Dec. 22, 1975, he opened an individual retirement account (an IRA) and contributed $ 1,500 to it. Petitioners did not claim any deduction on account of the $ 1,500 contribution, and included in their gross income the interest earned by the account. Held, petitioner-husband made an excess contribution to an IRA (within the meaning of sec. 4973(b)(1), I.R.C. 1954) for…
1Opinion of the Court
Bart H. Johnson, Jr., and Jimmie Ruth Johnson, Petitioners v. Commissioner of Internal Revenue, Respondent
Johnson v. Commissioner
Docket No. 10348-78
United States Tax Court
74 T.C. 1057; 1980 U.S. Tax Ct. LEXIS 80;
August 12, 1980, Filed
Decision will be entered under Rule 155.
Petitioner-husband was an active participant in one employer's tax-qualified profit-sharing plan until Mar. 14, 1975. He became an active participant in a second employer's tax-qualified profit-sharing plan on Apr. 1, 1976. On Dec. 22, 1975, he opened an individual retirement account (an IRA) and contributed $ 1,500 to it.…
2Cases cited5 opinions
- Orzechowski v. CommissionerUnited States Tax Court · 1978
- Richard W. And Janet Orzechowski v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1979
- Guest v. CommissionerUnited States Tax Court · 1979
- Johnson v. CommissionerUnited States Tax Court · 1980
- Collins v. CommissionerUnited States Tax Court · 1978