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return. We conclude that petitioner is not entitled to compute
his 1998 Federal income tax liability as such in that he has
never filed a 1998 tax return. See Thompson v. Commissioner,
78 T.C. 558, 561 (1982). Although petitioner gave respondent’s
counsel a copy of his purported joint return for 1998, that
“return” was not a joint return in that it was signed by neither
him nor his wife. Weber v. Commissioner, T.C. Memo. 1995-125;
Gudenschwager v. Commissioner, T.C. Memo. 1989-6. We sustain
respondent’s determination that petitioner’s filing status for
1998 is "Married filing separate return".
3. Stock Sales
A taxpayer such as petitioner must recognize gain or loss on
each sale of stock in an amount equal to the difference between
the amount realized and his basis. Secs. 1001, 1012. Gain or
loss on the sale of stock held for more than one year is
considered long-term. Sec. 1222(3) and (4). Gain or loss on all
other sales of stock is considered short-term. Sec. 1222(1) and
(2). Taxpayers who fail to prove a basis in a sold asset are
considered to have a zero basis in that asset. Garret v.
Commissioner, T.C. Memo. 1997-231; see also Reeve v.
Commissioner, a Memorandum Opinion of this Court dated March 27,
1947.
Petitioner argues that he is entitled to recognize losses on
sales of stock not mentioned above. We disagree. The record
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