Moreno v. Commissioner

SILVESTRE MORENO, JR., Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Moreno v. Commissioner

Docket No. 19900-88.

United States Tax Court

T.C. Memo 1989-9; 1989 Tax Ct. Memo LEXIS 9; 56 T.C.M. 1021; T.C.M. (RIA) 89009;

January 9, 1989.

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Silvestre Moreno, Jr., Pro se.

Phillip A. Pillar, for the respondent.

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SWIFT

MEMORANDUM OPINION

SWIFT, Judge: This matter is before the Court on petitioner's motion for summary judgment filed October 7, 1988. Respondent filed his objection to petitioner's motion on November 10, 1988. This case is calendared for trial on March 3, 1989, in San Antonio, Texas.

From the brief explanations set forth in the materials submitted by the parties in connection with">*10 this motion, it appears that petitioner's motion is based on his belief that the $ 1,069 tax deficiency determined by respondent against petitioner for 1985 is based on section 6050J,

Respondent became aware of the foreclosure and determined that">*11 as a result of the foreclosure and petitioner's discharge of the balance due on the mortgage loan, petitioner realized $ 4,425 of discharge of indebtedness income under section 61(a)(12). 1989 Tax Ct. Memo LEXIS 9">*12 until 1985. Even if we were to assume that in 1984 First Financial did report petitioner's discharge of the mortgage indebtedness to respondent, such reporting would not have any particular effect on the taxability of the discharge of indebtedness income to petitioner. An appropriate order will be issued.

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Footnotes

• 1. All section references are to the Internal Revenue Code of 1954, as in effect during the year at issue.↩

• 2. Sec. 61(a)(12) provides as follows:

  SEC. 61. GROSS INCOME DEFINED.

  (a) General Definition. -- Except as otherwise provided in this subtitle, gross income means all income from whatever source derived,including (but not limited to) the following items:

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  (12) Income from discharge of indebtedness;

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• 3. We acknowledge that the year in which First Financial reported petitioner's discharge of indebtedness income to the Internal Revenue Service may be relevant to the determination of whether petitioner should be taxed on the income in 1984 or in 1985.↩