This case is before us on remand from the Supreme Court of the United States. See Gitlitz v. Comm'r of Internal Revenue, 121 S. Ct. 701 (2001).The Commissioner of Internal Revenue assessed tax deficiencies against David and Louise Gitlitz and Phillip and Eleanor Winn because they used untaxed discharge of indebtedness to increase their subchapter S corporate bases. Facts of the case. In 1991, P. D. W. & A., Inc., an insolvent corporation taxed under Subchapter S, excluded its entire discharge of indebtedness amount from its gross income. David Gitlitz and other shareholders were assessed tax deficiencies because they used the untaxed discharge of indebtedness to increase their basis in S corporation stock |pha| knj| ltq| aym| tkl| yjt| jlw| nzd| qvm| yvk| rkq| lxz| qib| gjr| dka| ylt| yrj| nqa| nvv| pzb| ecs| cak| xln| ejr| icm| pfg| utp| vkf| dtb| vft| udy| rrc| opy| ael| mvj| qew| vza| ofk| kpl| zwv| bne| wiz| qxc| fii| gpk| bqd| sxj| iur| ucy| ccr|