Hann v. United States

OPINION AND ORDER

WILLIAMS, Judge.

This matter comes before the Court on the parties’ cross-motions for summary judgment. Plaintiffs pro se, Gregory Alan Hann and Barbara Childs Hann, seek a refund of income tax paid for the 2011 tax year. Plaintiffs seek to recharacterize as an ordinary expense the Underwriters’ commission paid by Mr. Hann in connection with his participation in his employer’s initial public offering. As a matter of law, the Underwriters’ commission in this case is properly characterized as a capital expense because it was paid to sell a capital asset—the stock acquired by Mr.…