Moss v. Commissioner
United States Tax Court
Ps owned rental properties that generated losses for the year in issue. R contends that Ps are subject to the passive activity loss limitations of sec. 469, I.R.C. Ps offered a summary of the time P husband worked on the rental properties. The summary showed that P husband worked on the properties for less than the 750 hours required by sec. 469(c)(7)(B)(ii), I.R.C.
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Ps owned rental properties that generated losses for the year in issue. R contends that Ps are subject to the passive activity loss limitations of sec. 469, I.R.C. Ps offered a summary of the time P husband worked on the rental properties. The summary showed that P husband worked on the properties for less than the 750 hours required by sec. 469(c)(7)(B)(ii), I.R.C. Ps, however, contend that, in addition to the time P husband actually worked, he was "on call" for work on the rental properties during the time that he was not at his full-time job and that the "on call" hours should count toward…
1Opinion of the Court
Wells, Judge:
Respondent determined a deficiency of $8,070 in petitioners’ Federal income tax for their 2007 tax year and an accuracy-related penalty pursuant to section 6662(a) of $1,614. We must decide the following issues: (1) Whether the loss of $40,490 claimed on petitioners’ Schedule E, Supplemental Income and Loss, should be disallowed because petitioners failed to meet the restrictions on passive activity losses under section 469; and (2) whether petitioners are subject to the accuracy-related penalty pursuant to section 6662(a) for the year in issue.
FINDINGS OF FACT
Some of the facts…
2Cases cited3 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- HIGBEE v. COMMISSIONER OF INTERNAL REVENUEUnited States Tax Court · 2001
- Indopco, Inc. v. CommissionerSupreme Court of the United States · 1992
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