Tax Court In Brief | Vassiliades v. Comm'r | Deficiency For Disallowed American Opportunity Credit

• Jurisdiction: United States,Federal
• Author: Freeman Law
• Law Firm: Freeman Law
• Published date: 18 January 2023

Tax Litigation: The Week of January 9th, 2022, through January 13th, 2023

• Simpson v. Comm'r, T.C. Memo. 2023-4| January 9, 2023 | Jones, J. | Dkt. No. 16923-16
• Wondries v. Comm'r, T.C. Memo. 2023-5| January 9, 2023 | Kerrigan, J. | Dkt. No. 13345-19 (deficiencies fordeduction of farm and ranch expenses evaluation of activity not engaged in for profit).
• Decrescenzo v. Comm'r, T.C. Memo 2023-7| January 12, 2023 | Halpern, J. | Dkt. No 16784-18

Vassiliades v. Comm'r, T.C. Memo. 2023-1 | January 9, 2023 | Panuthos, J. | Dkt. No. 12283-20S.

Summary: This case involves whether taxpayers are allowed to claim the American Opportunity Credit (AOC) on their federal income tax return. In 2018, the IRS disallowed the AOC claimed by John M. Vassiliades and Eliza Ortizluis Vassiliades (Vassiliades) on their 2018 federal income tax return. Mr. Vassiliades has a daughter (AM) from a prior relationship, who lived in London and was enrolled in postsecondary education at the University College London (UCL). Mr. Vassiliades made several wire transfers to his daughter in an account in the UK to pay for school tuition, fees, and other expenses. Vassiliades claimed AM as a dependent in their 2018 tax return. Additionally, under Form 8863 Education...