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for decision are: (1) Whether petitioner is entitled to net
operating loss (NOL) deductions in the amounts claimed. This
turns on whether petitioner may claim that her husband had a
higher basis in property he inherited from his mother than that
stipulated by him as beneficiary/transferee in a prior estate
case in which an agreed decision was entered in this Court.
Estate of Cluck v. Commissioner, Docket No. 10381-88 (August 29,
1989). We hold she may not. (2) Whether petitioner is liable
for the section 6651 addition to tax, because she failed to
timely file her 1987 and 1988 Federal income tax returns.2 We
hold that she is liable. (3) Whether petitioner is liable for
the addition to tax for negligence under section 6653 for the
years at issue. We hold that she is liable. (4) Whether
petitioner is liable for the substantial understatement penalty
under section 6661 for the years at issue. We hold that she is
liable.
1(...continued)
and a miscellaneous deduction of $250 for tax year 1987. In her
petition, petitioner asserted that these deductions were
allowable; however, petitioner did not address these issues at
trial or on brief. Accordingly, we find that petitioner has
conceded these issues. Rule 151(e)(4) and (5); Petzoldt v.
Commissioner, 92 T.C. 661, 683 (1989); Money v. Commissioner, 89
T.C. 46, 48 (1987).
2 All section references are to the Internal Revenue Code in
effect for the taxable years in issue, and all Rule references
are to the Tax Court Rules of Practice and Procedure, unless
otherwise indicated. All dollar amounts are rounded to the
nearest dollar.
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