Opinion
5453-22S
10-11-2022
WILLIAM A. CAPP & JILL L. CAPP, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER AND DECISION
Eunkyong Choi Special Trial Judge
This matter is before the Court on petitioners' Motion for Summary Judgment, filed August 22, 2022. Petitioners therein contend that they are not required to report Form 1099-Q, Payments From Qualified Education Programs (Under Sections 529 and 530), gross distribution on their 2019 Form 1040-SR, U.S. Tax Return for Seniors, and that they did not experience any taxable income warranting an adjustment or correction of their 2019 Form 1040-SR. Petitioners resided in Virginia at the time the petition in this case was filed.
On October 3, 2022, respondent filed a response to petitioners' motion, agreeing with petitioners' position and requesting that the Court Court grant petitioners' Motion for Summary Judgement and find that petitioners owe no deficiency and no penalty pursuant to section 6662(a) of the Internal Revenue Code (I.R.C.) for the taxable year 2019.
Accordingly, there are no genuine issues of material fact in this case, and the Court concludes that petitioners are entitled to judgment as a matter of law as provided herein.
ORDERED that petitioners' Motion for for Summary Judgment is granted. It is further
ORDERED and DECIDED that there is no deficiency in income tax or penalty under I.R.C. section 6662 due from petitioners for the taxable year 2019.