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shall be made in the manner prescribed by the Secretary. Sec.
172(b)(3).
Such an election:
shall be made by a statement attached to the
return (or amended return) for the taxable
year. The statement required * * * shall
indicate the section under which the election
is being made and shall set forth information
to identify the election, the period for
which it applies, and the taxpayer’s basis or
entitlement for making the election.
Sec. 301.9100-12T(d), Temporary Proced. & Admin. Regs., 57 Fed.
Reg. 43896 (Sept. 23, 1992) (redesignating sec. 7.0, Temporary
Income Tax Regs., 42 Fed. Reg. 1470 (Jan. 7, 1977)).
Petitioner did not file an election under section 172(b)(3).
In addition, it was agreed that if the 1983 and 1984 NOL’s had
been properly carried back, both NOL’s would have been entirely
absorbed in the carryback period. Therefore, we must conclude
that petitioner is not entitled to any carryover to 1990 and
1991.
Petitioner argues that the mitigation provisions, sections
1311 through 1314, apply in this circumstance, and he should be
allowed to carry back the NOL’s to 1980 and 1981. Respondent
argues that the Court is without jurisdiction to consider
petitioner’s mitigation argument because the tax years 1980 and
1981 are not before the Court and there has not been a
determination as required under section 1313(a).
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