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The Respondent argues that such amount would be
deductible if the Petitioner furnishes substantiation
that the amount claimed has been paid or will be paid,
and has not been claimed on Form 1041. Such
substantiation may be provided by the use of Form 4421.
6. Addition to Tax Under Code Section 6653(b)
In the Stipulation of Disposition of Issues filed
with this Court in 1985, the parties agreed, and
continue to agree, that the addition to tax provided by
Section 6653(b) of the Internal Revenue Code shall be
computed as an amount equal to 18.75% of the
underpayment of tax.
The taxable estate as tentatively agreed in The First
Stipulation was $1,988,288.12. The taxable estate as tentatively
agreed in The Second Stipulation is $1,328,614.69. The decrease
results from (1) an increase in Schedule J of $647,652.44 which
approximates the sum of $401,256.10, the amount of fees allowed
to Lynch and Reardon by the Orphans' Court, and the Dilworth
firm's legal fees of $231,34.50 referred to in paragraph 2(C) of
The First Stipulation, and (2) an increase in Schedule K of
$12,021, which is the amount referred to in paragraph 2(E) in The
First Stipulation.
This case was tried for 11-1/2 hours from December 5, 1994,
through December 7, 1994.
OPINION
Issue 1. Claimed Theft Loss Deduction
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