T.C. Memo. 1997-410
UNITED STATES TAX COURT
HUGH WILKINSON AND EVELYN WILKINSON, Petitioners v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 1963-96. Filed September 16, 1997.
H and W (Ps) filed their 1988, 1989, and 1990
Federal income tax returns on Nov. 6, 1992, reporting
large amounts of taxable income. H claimed that he
failed to file timely returns because he had emotional
problems. W claimed that she was not required to file
returns because she earned no income. On their 1988
Federal income tax return, Ps reported that they had a
$1,105 short-term capital loss that could be carried
over from 1988 to 1989. On their 1989 return, they
reported and deducted the carryover as $1,208. R
mailed a notice of deficiency to Ps on Nov. 3, 1995.
Held: The period of limitations for assessment of
tax did not expire before R issued the notice of
deficiency.
Held, further, Ps are liable for the deficiency
determined by R for 1989.
Held, further, Ps are not liable for an addition
to tax for fraud under sec. 6653(b)(1), I.R.C., for
1988 or an addition to tax for fraudulent failure to
file under sec. 6651(f), I.R.C., for 1989.
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