Woods v. Comm'r
United States Tax Court
P entered into a contract for deed to purchase a house in 2008, took possession of the house in 2008, and claimed the first-time homebuyer tax credit pursuant to I.R.C. sec. 36 on his 2008 Federal income tax return. The house required renovations before being ready for occupancy. Petitioner intended to use the first-time homebuyer tax credit to pay for the necessary renovations.
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P entered into a contract for deed to purchase a house in 2008, took possession of the house in 2008, and claimed the first-time homebuyer tax credit pursuant to I.R.C. sec. 36 on his 2008 Federal income tax return. The house required renovations before being ready for occupancy. Petitioner intended to use the first-time homebuyer tax credit to pay for the necessary renovations. In February 2009 petitioner received $7,500 for the first-time homebuyer tax credit and began renovations. In August 2009 R issued P a statutory notice of deficiency denying P's claimed first-time homebuyer tax credit…
1Opinion of the Court
HAINES, Judge:
Respondent determined a deficiency in petitioner’s 2008 Federal income tax of $7,500. The sole issue for decision is whether petitioner is entitled to the first-time homebuyer tax credit (FTHBC) for 2008 pursuant to section 36.1
FINDINGS OF FACT
Some of the facts have been stipulated and are so found. The stipulation of facts, together with the attached exhibits, is incorporated herein by this reference. At the time petitioner filed his petition, he resided in Texas.
Petitioner works in Rice, Texas, and has been working there since 1999. Throughout most of that time, petitioner…
2Cases cited7 opinions
- United States v. National Bank of CommerceSupreme Court of the United States · 1985
- Criswell v. European Crossroads Shopping Center, Ltd.Texas Supreme Court · 1990
- Baird v. CommissionerUnited States Tax Court · 1977
- Deyoe v. CommissionerUnited States Tax Court · 1976
- Margaret v. Dettmers, Estate of Herrick L. Johnston, Deceased, and Margaret v. Dettmers, Individually v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1970
2 more not listed; retrieve them via the Exa API.
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- Brewer v. Comm'rUnited States Tax Court · 2013
- Funk v. Comm'rUnited States Tax Court · 2012
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