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information reports of interest and pension and annuity income,
which were turned over to petitioner's and Mr. Barber's
accountant. Petitioner also had discussions with their
accountant concerning the things she had to do. During 1993,
however, petitioner put aside matters connected with the
preparation of her 1992 return because of the problems facing Mr.
Barber.
After the end of the second trial in April 1994, petitioner
and Mr. Barber were able to begin reclaiming the documents that
had been taken in the August 1992 search. Petitioner turned over
to their accountant the records relating to their affairs. At
least by late 1994, petitioner had obtained the documents
necessary to prepare a 1992 Federal income tax return.
Neither petitioner nor Mr. Barber requested an extension of
time to file a Federal income tax return for 1992. Petitioner
did not timely file a Federal income tax return for her 1992
taxable year. On November 22, 1995, over 7 months after the
issuance of the notice of deficiency in issue in the instant
case, petitioner and Mr. Barber submitted to respondent a joint
Federal income tax return for their 1992 taxable year. Among the
items of income properly reportable by petitioner for her 1992
taxable year are: Wages of $59,484, pension and annuity income
of $18,696, short-term capital gain of $57,012, and long-term
capital gain from the sale of a building of $121,556.
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