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petitioners bear the burden of proof, and have failed to
introduce any evidence, the Court should find against petitioners
and hold for respondent on that issue. In their reply brief,
petitioners state that, subsequent to the trial, petitioners and
respondent "agreed that the adjustment to the capital gain
realized by petitioners in 1989 with respect to Bruce's basis in
BSG Corp. proposed by respondent was correct." We take that as a
concession by petitioners and, on that basis, sustain so much of
the deficiencies as relate to that issue. In a footnote,
petitioners added:
Petitioners contend that the parties' agreement
with respect to respondent's determination of Bruce's
basis in BSG Corp. in this case allows them to correct
their erroneously computed share of BSG Corp.'s
subchapter S corporation losses in 1985 and 1986 under
I.R.C. � 1311-1314.
Suffice it to say that neither 1985 nor 1986 is a year before us,
and, therefore, we have no jurisdiction to determine any
overpayment for either of such years. See sec. 6512(b).
Unless otherwise indicated, all section references are to
the Internal Revenue Code in effect for the years in issue, and
all Rule references are to the Tax Court Rules of Practice and
Procedure.
FINDINGS OF FACT
Some of the facts have been stipulated and are so found.
The stipulations of fact filed by the parties and attached
exhibits are incorporated herein by this reference.
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