Day v. Commissioner
United States Tax Court
R determined deficiencies in Ps' Federal income tax for the years 1988 through 1990. Ps seek to augment the amount of sec. 29, I.R.C., nonconventional fuel source credits they may take against regular income tax by increasing the availability of such credits under the sec. 29(b) (5), I.R.C., limitation.
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R determined deficiencies in Ps' Federal income tax for the years 1988 through 1990. Ps seek to augment the amount of sec. 29, I.R.C., nonconventional fuel source credits they may take against regular income tax by increasing the availability of such credits under the sec. 29(b) (5), I.R.C., limitation. Ps argue that if their taxable income in each year had not been reduced by tax preference items, the resulting tax payable on that income would nonetheless have been the same due to sec. 29, I.R.C., credits generated in these years. R contends that relief under the sec. 59(g), I.R.C., tax…
1Opinion of the Court
ROY E. AND LINDA DAY, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Day v. Commissioner
Docket No. 20732-94.
United States Tax Court
108 T.C. 11; 1997 U.S. Tax Ct. LEXIS 2; 108 T.C. No. 2;
January 9, 1997, Filed
Decision will be entered for respondent.
R determined deficiencies in Ps' Federal income tax for the years 1988 through 1990. Ps seek to augment the amount of sec. 29, I.R.C., nonconventional fuel source credits they may take against regular income tax by increasing the availability of such credits under the sec. 29(b) (5), I.R.C., limitation. Ps argue that if their taxable…
2Cases cited7 opinions
- First Chicago Corporation v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1988
- First Chicago Corp. v. CommissionerUnited States Tax Court · 1987
- E.I. Du Pont de Nemours & Co. v. CommissionerUnited States Tax Court · 1994
- Breakell v. CommissionerUnited States Tax Court · 1991
- Conoco, Inc. v. CommissionerCourt of Appeals for the Fifth Circuit · 1995
2 more not listed; retrieve them via the Exa API.