Fred Allnutt - Page 17

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          Robarts v. Commissioner, 103 T.C. 72 (1994), affd. without                  
          published opinion 56 F.3d 1390 (11th Cir. 1995); Hamilton Indus.,           
          Inc. v. Commissioner, 97 T.C. 120, 127-128 (1991); and Budd Co.             
          v. Commissioner, 33 T.C. 813 (1960), provide substantial                    
          authority for his position that he can claim losses for years for           
          which we held in Allnutt I that he had substantial income.  We              
          disagree.  The courts in the cases petitioner cites held that it            
          was appropriate to consider facts from years closed by the                  
          statute of limitations in calculating tax liabilities for the               
          years before the court.  However, those cases are inapplicable              
          here because they did not involve years that were litigated and             
          barred by res judicata.  Petitioner’s contention that he can                
          claim he had losses in years for which we decided in Allnutt I              
          that he had substantial income does not logically follow from               
          those cases.                                                                
               e.   Whether Petitioner Relied on His C.P.A.                           
               A taxpayer may be relieved of liability for negligence if              
          the taxpayer shows that he or she reasonably relied on the advice           
          of a qualified tax professional.  Sec. 6664(c).  Petitioner                 
          contends that he was not negligent because he reasonably relied             
          on his C.P.A.  We disagree.  To establish reasonable reliance on            
          the advice of a competent adviser, a taxpayer must show that he             
          or she provided the return preparer with complete and accurate              
          information.  DeCleene v. Commissioner, 115 T.C. 457, 477 (2000);           






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