- 15 -
return. See Wilkinson v. Commissioner, 71 T.C. 633, 639 (1979);
Roberts v. Commissioner, 62 T.C. 834, 837, 839 (1974).
Petitioner did not establish the amount of his 1991 or 1993 net
operating loss, or that his income in the carryback years before
1991 or 1993 did not fully offset any net operating loss.4
Petitioner has failed to show that he may carry a net
operating loss forward from 1991 or 1993 to 1994. We conclude
that petitioner may not carry forward any losses to 1994.
C. Whether Petitioner Is Liable for the Addition to Tax for
Failure To Timely File
Respondent determined that petitioner is liable for the
addition to tax for failure to timely file his returns for 1993
and 1994. Petitioner did not show that he had reasonable cause
for failing to file timely the returns in issue. Petitioner
offered no evidence and made no argument on this issue. Thus,
petitioner has conceded this issue. See, e.g., Bradley v.
Commissioner, 100 T.C. 367, 370 (1993); Sundstrand Corp. v.
Commissioner, 96 T.C. 226, 344 (1991); Rybak v. Commissioner, 91
T.C. 524, 566 n.19 (1988); Money v. Commissioner, 89 T.C. 46, 48
(1987); Leahy v. Commissioner, 87 T.C. 56, 73-74 (1986).
4 Thus, we need not decide petitioner’s contentions that he
should not be required to have elected under sec. 172(b)(3) on
his original 1991 and 1993 returns or that respondent has
discretion to allow him to elect now.
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