Sutphin v. United States

OPINION

BRUGGINK, Judge.

This is a suit for refund of $4120.09 in federal income taxes, paid by plaintiffs James and Louise Sutphin for calendar year 1982. Both plaintiffs and defendant have filed motions for summary judgment. The only question before the court is whether the discounted prepayment of the taxpayers’ mortgage constituted discharge of indebtedness income. Jurisdiction for this action is conferred upon the court by 28 U.S.C. § 1491 (1982).

FACTUAL BACKGROUND

The undisputed facts of the case are as follows:

In March 1982, plaintiffs were indebted to Park View Federal Savings & Loan…