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He claimed no short-term capital gains and no long-term capital
gains or losses in his 1989 Schedule D. Because of the $3,000
limitation imposed by section 1211(b) for each taxable year on
the amount of net capital loss by which an individual may reduce
income, petitioner reduced the income reported in his 1989 return
by $3,000 of the claimed short-term capital losses reported in
his 1989 Schedule D. He carried over the remaining $20,500 of
such claimed losses to Schedule D of his 1990 return and reduced
the income reported in that return by $3,000 of that claimed loss
carryover. Petitioner carried over the remaining $17,500 of that
claimed loss carryover to Schedule D of his 1991 return and
reduced the income reported in that return by $3,000 of that
claimed loss carryover.
In his returns for the years at issue, petitioner did not
claim any losses attributable to the sales of the Daisy stock and
the Gibraltar stock, the amount of Ms. Parra's check, the amount
of the insurance payments, and the amount of Mr. Ridgway's check.
OPINION
Petitioner bears the burden of proving that respondent's
determinations in the notice are erroneous and that he is enti-
tled to the tax treatment that he is claiming for the items in
dispute. See Rule 142(a); Welch v. Helvering, 290 U.S. 111, 115
(1933).
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