Ferris L. Johnson and Jettie L. Johnson v. Commissioner of Internal Revenue

The petitioners, Ferris L. Johnson (hereinafter Johnson) and Jettie L. Johnson (party to this case only because she signed the petitioners’ joint return), appeal from a decision of the Tax Court. 1 The Tax Court upheld a determination by the Commissioner of Internal Revenue disallowing Johnson’s deduction of $1,500 contributed to an individual retirement account (IRA), Internal Revenue Code § 219(b)(2)(A)(i), 26 U.S.C., 2 and imposing a 6% excise tax for excess contributions to an IRA, I.R.C. § 4973. We affirm and adopt the opinion of the Tax Court, T.C. Memo 1978 — 426, 37 T.C.M. (CCH) 1763,…