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Petitioner met with Wilkinson during his bankruptcy case on
two occasions: Once when Wilkinson took petitioner’s deposition,
and once on the day of the hearing. Other than the exchange of
personal introductions at petitioner’s deposition, Wilkinson did
not meet with petitioner outside the presence of Margulies.
Wilkinson did not represent to either Margulies or petitioner
that (1) petitioner’s 1994 tax liability was dischargeable, or
(2) petitioner could contest his 1994 tax liability in a
proceeding before this Court if the Bankruptcy Court overruled
petitioner’s objection.
The notice of deficiency in the instant case was mailed to
petitioner on October 14, 1998.
OPINION
Petitioner contends that (1) the compensation he received
under the settlement agreement is excludable from gross income
under section 104(a)(2), (2) the discharge of indebtedness income
he received under the settlement agreement is excludable from
gross income under section 108(a)(1)(B), (3) the income he
received from the sale of his NHP stock should have been taxed at
capital gains rates, (4) respondent erroneously included loan
proceeds in petitioner’s gross income, (5) respondent erroneously
computed the amount of disability insurance benefits he received,
and (6) he is entitled to the filing status of married filing
jointly.
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