Fleming v. Commissioner
United States Tax Court
In their 1951 income tax return, filed March 15, 1952, petitioners made an error in computing the alternative tax in respect of reported capital gains. That error resulted in an understatement of $ 7,591.56 in tax. On December 23, 1954, the Commissioner determined a deficiency of $ 30,577.66 based primarily upon reclassifying certain capital gains as ordinary income.
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In their 1951 income tax return, filed March 15, 1952, petitioners made an error in computing the alternative tax in respect of reported capital gains. That error resulted in an understatement of $ 7,591.56 in tax. On December 23, 1954, the Commissioner determined a deficiency of $ 30,577.66 based primarily upon reclassifying certain capital gains as ordinary income. Such reclassification required a recomputation of the entire tax which was correctly made by the Commissioner. The petitioners' error in computation was not singled out in the deficiency notice, but was corrected by the…
1Opinion of the Court
James R. Fleming and Patricia M. Fleming, Petitioners, v. Commissioner of Internal Revenue, Respondent
Fleming v. Commissioner
Docket No. 56590
United States Tax Court
33 T.C. 336; 1959 U.S. Tax Ct. LEXIS 31;
November 27, 1959, Filed
In their 1951 income tax return, filed March 15, 1952, petitioners made an error in computing the alternative tax in respect of reported capital gains. That error resulted in an understatement of $ 7,591.56 in tax. On December 23, 1954, the Commissioner determined a deficiency of $ 30,577.66 based primarily upon reclassifying certain capital gains as ordinary income.…
2Cases cited2 opinions
- Richards v. CommissionerUnited States Board of Tax Appeals · 1928
- Fleming v. CommissionerUnited States Tax Court · 1959