- 4 -
During the 2000 taxable year, petitioner also sold 769
shares of stock in Peco Energy Co. (Peco stock) and received sale
proceeds of $31,581 through the following transactions:4
No. of Date of Sales Date of Purchase
Shares Sale Proceeds Purchase Price
50 02/09/00 $2,045.18 01/10/95 $1,231.25
180 02/15/00 7,177.03 01/10/95 4,432.50
50 04/24/00 2,017.47 01/10/95 1,231.25
50 05/22/00 2,183.76 01/10/95 1,231.25
295 06/20/00 12,202.53 01/10/95 7,264.38
13 06/20/00 537.73 06/30/95 354.10
12 06/20/00 496.37 09/29/95 359.20
13 06/20/00 537.74 12/20/95 391.21
15 06/20/00 620.46 03/29/96 396.91
15 06/20/00 620.47 06/28/96 403.35
17 06/20/00 703.20 09/30/96 410.09
17 06/20/00 703.20 12/20/96 431.81
21 06/20/00 868.66 03/31/97 439.59
21 06/20/00 868.66 06/30/97 449.24
The sale of Peco stock resulted in a gain of $12,554.87.
Petitioner made estimated tax payments of $254 for the 2000
taxable year. In addition, petitioner requested, and respondent
granted, two extensions of time to file a tax return for the 2000
taxable year. Despite these extensions, petitioner did not file
a return for the 2000 taxable year.
As we indicated earlier, respondent determined that
petitioner received unreported income and that she is liable for
certain additions to tax for the 2000 taxable year. Respondent
4 While the parties stipulated that petitioner received
sale proceeds of $31,581, petitioner’s annual statement from
Merrill Lynch indicates that she received proceeds of $31,582.46.
This difference is immaterial, and we accept the stipulated
amount.
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Last modified: May 25, 2011