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negligence, we must conclude that petitioner knew or should have
known that he had no losses in 1981-86 and that res judicata
barred him from carrying forward NOLs from 1981-86 to the years
in issue.
In Allnutt I, the Court held that petitioner had substantial
amounts of taxable income for each of the years 1981-86.
Petitioner contends that he did not know or have reason to know
that Allnutt I barred him from carrying forward NOLs from 1981-86
to the years in issue. We disagree.
Because of the District Court opinion in Allnut v. Friedman,
Bankruptcy No. 92-5-7401-JS (D. Md., Jan. 20, 1995), petitioner
knew or should have known before he filed his tax returns for the
years in issue that he was barred by Allnutt I and res judicata
from relitigating his tax liability for tax years 1981-86.
d. Whether Petitioner Had Substantial Authority for
His Position
A taxpayer has substantial authority for his or her position
if the weight of authority in support of the taxpayer’s position
is substantial in relation to the weight of authority supporting
contrary positions. Roco v. Commissioner, 121 T.C. 160, 167
(2003); Antonides v. Commissioner, 91 T.C. 686, 702 (1988), affd.
893 F.2d 656 (4th Cir. 1990).
Petitioner contends that Barenholtz v. United States, 784
F.2d 375, 380-381 (Fed. Cir. 1986); Springfield St. Ry. Co. v.
United States, 160 Ct. Cl. 111, 312 F.2d 754, 757-759 (1963);
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