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fax, respondent faxed the following response to Mr. Koll:
However, at no time did I agree, or express an opinion,
as to a particular year in which the expenditures at
issue (which I consider to be capital) would be
deductible, since this would be based upon facts and
circumstances that I am not now aware of, or at least
aware of in total. I think that any such conclusion as
to the proper year is premature by any of us since not
all of the Barela tax returns (including, in
particular, the return for calendar year 1999) have yet
been filed, let alone reviewed by Eric or me.
Respondent’s letter is consistent with respondent’s response
to petitioner’s proposal during the negotiations. Upon receipt
of respondent’s letter neither Mr. Koll nor petitioner made any
attempt to respond, rebut, or dispute the contentions in
respondent’s letter. Further, petitioner did not move to
withdraw or to vacate the entered decision for 1998.
Accordingly, we hold that the parties did not reach a
binding agreement as to the allowance of the $5,433 loss.
Petitioner has not otherwise shown entitlement to said loss for
1999 and is not entitled to deduct the $5,433 amount on his 1999
return.
We have considered all other arguments advanced by the
parties, and, to the extent that we have not addressed these
arguments, we consider them irrelevant, moot, or without merit.
Decision will be entered
under Rule 155.
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Last modified: May 25, 2011