TAX COURT OPINION

Case: Chukwudi & Elizabeth Ozo-Onyali
Docket Number: 1631-12
Judge: Halpern
Opinion Type: bench
Filed: 02/12/2013
Pages: 3

UNITED STATES TAX COURT WASHINGTON, DC 20217 CHUKWUDI & ELIZABETH OZOONYALI, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, ) ) ) ) ) Docket No. 1631-12. ) ) Respondent ) ORDE R Pursuant to Rule 152(b), Tax Court Rules of Practice and Procedure, it is ORDERED that the Clerk of the Court shall transmit herewith to petitioner and to respondent a copy of the pages of the transcript of the trial in the above case before Judge James S. Halpern at New York (Westbury), New York, containing his oral findings of fact and opinion rendered at the trial session at which the case was heard. In accordance with the oral findings of fact and opinion, a decision will be entered under Rule 155. (Signed) James S. Halpern Judge Dated: Washington, D.C. February 12, 2013 SERVED FEB 1 3 20f3 Capital Reporting Company 29 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Bench Opinion by Judge James S. Halpern November 29, 2012 Chukwudi & Elizabeth Ozo-Onyali v. Commissioner Docket No. 1631-12 THE COURT: This will be the Court's be'nch opinion. The Court has decided to render oral findings of fact and opinion in this case, and the following represents the Court's oral findings of fact and opinion. The oral findings of fact and opinion should not be relied upon as precedent in any other case. This bench opinion is made pursuant to the authority granted by Section 7459(b) of the Internal Revenue Code of 1986 as amended, and Rule 152 of the tax rules of practice and procedure. By notice of deficiency dated December 27, 2011, respondent has determined the deficiency in addition to tax in petitioner's federal income taxes for 2009 as follows: A deficiency of $11,781, a penalty under IRC section 6662(a). Upon hearing this case, the Court has determined that the taxpayers are entitled to deduct 24 mortgage interest of 14944.3 with regard to the M&T 25 mortgage, and 1320.92 with respect to the time share. 866.488.DEPO www.CapitalReportingCompany.com Capital Reporting Company 30 The adjustment disallowing Schedule A interest in the amount of 94552 is otherwise sustained. The accuracy related to the penalty is sustained, subject to recomputation given the redetermined deficiency. That concludes the Court's oral findings of fact and opinion in this case. 1 2 3 4 5 6 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 866.488.DEPO www.CapitalReportingCompany.com