Aames v. Commissioner
United States Tax Court
P sued his attorney for malpractice for the negligent handling of a personal injury action. P was awarded damages on the malpractice claim together with interest thereon from Jan. 27, 1984 to Apr. 1, 1986. Held, the interest was not paid "on account of" P's personal injury. Sec. 104(a)(2), I.R.C., as amended. Held, further, the interest portion of the damage award is taxable income to P. Sec. 61(a)(4).
1Opinion of the Court
OPINION
COHEN, Judge:
Respondent determined a deficiency of $76,146 in petitioner’s Federal income tax for 1986. Respondent also determined that petitioner is. liable fot additions to tax of $19,037 under section 6651(a)(1), $3,807 under 6653(a)(1)(A), $3,684 under section 6654, and 50 percent of the interest due on $76,031 under section 6653(a)(1)(B) for 1986.
Unless otherwise indicated, all section references are to the Internal Revenue Code as amended and in effect for the year in issue, and all Rule references are to the Tax Court Rules of Practice and Procedure.
This matter is before the…
2Cases cited8 opinions
- Fishman v. BrooksMassachusetts Supreme Judicial Court · 1986
- Kieselbach v. CommissionerSupreme Court of the United States · 1943
- Sylvania Electric Products, Inc. v. Irene Barker, Irene Barker v. Sylvania Electric Products, Inc.Court of Appeals for the First Circuit · 1956
- USM Corp. v. Marson Fastener Corp.Massachusetts Supreme Judicial Court · 1984
- Wheeler v. CommissionerUnited States Tax Court · 1972
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3Cited by25 opinions
- Bagley v. CommissionerUnited States Tax Court · 1995
- Rozpad v. CommissionerCourt of Appeals for the First Circuit · 1998
- Kovacs v. CommissionerUnited States Tax Court · 1993
- Baxley v. Nationwide Mutual InsuranceSupreme Court of North Carolina · 1993
- Charles Francisco Cecilia Francisco v. United StatesCourt of Appeals for the Third Circuit · 2001
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