ELLIS v. C.I.R.

No. 14-1310.

787 F.3d 1213 (2015)

Terry L. ELLIS; Sheila K. Ellis, Petitioners-Appellants v. COMMISSIONER of INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Eighth Circuit.

Filed: June 5, 2015.


Attorney(s) appearing for the Case

Troy D. Renkemeyer , argued, Overland Park, KS, for Petitioners-Appellants.

John A. Nolet , USDOJ, Tax Division, argued ( Richard Farber , USDOJ, Tax Division, on the brief), Washington, DC, for Respondent-Appellee.

Before WOLLMAN and GRUENDER, Circuit Judges, and DOTY, District Judge.


Terry and Sheila Ellis appeal from the decision of the tax court2 finding a deficiency in their 2005 income tax and imposing related penalties. Because we conclude that Mr. Ellis engaged in a prohibited transaction with respect to his individual retirement account (IRA), we affirm.

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