- 3 -
Date Amount
2/07 $2,000
3/07 2,000
4/29 2,000
6/03 2,000
7/01 2,000
8/01 2,000
8/28 2,000
9/26 2,000
10/31 2,000
11/26 2,000
12/30 2,000
12/31 3,813
Petitioner received an extension of time to file her 1995
Federal income tax return until October 15, 1996. On that date,
she mailed the return from her Byron, California, home in an
envelope stamped by a private post meter with the same date. The
Internal Revenue Service Center in Ogden, Utah, received the
return on October 21, 1996. Petitioner paid $2,976 with her 1995
return. She paid an additional $94.48 in connection with the
1995 return on December 16, 1996, for interest and an addition to
tax for failure to pay.
Petitioner filed with the return a Form 2119, Sale of Your
Home, reflecting the sale of an interest in the residence. On
this form, she reported an amount realized of $250,000 and gain
of $145,738. She reported that she had used the residence as her
“main home” for at least 3 years of the 5-year period before the
sale. Claiming the exclusion under section 121 in the maximum
amount of $125,000, she included in income only $20,738 of the
gain on the sale.
Page: Previous 1 2 3 4 5 6 7 8 9 10 Next
Last modified: May 25, 2011