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In any event, petitioner was not ready at trial to prove
that the assessments overstated his tax liabilities. Taxpayers
bear the burden of proving their entitlement to deductions. Rule
142(a); Welch v. Helvering, 290 U.S. 111 (1933). The
Commissioner is required only to prepare the substitute for
return “from his own knowledge and from such information as he
can obtain through testimony or otherwise.” Sec. 6020(b); see
Andary-Stern v. Commissioner, T.C. Memo. 2002-212. Petitioner
did not offer into evidence any records, not even the 1987
return, that would tend to prove his contentions that he had cost
bases greater than zero for purposes of determining gains and
losses on the sale of his securities, or that he had a capital
loss carryover from 1987. See Poindexter v. Commissioner, 122
T.C. 280 (2004); Horn v. Commissioner, T.C. Memo. 2002-207; Smith
v. Commissioner, T.C. Memo. 2002-59. Respondent is not obligated
to accept any late-filed returns unless petitioner can
substantiate his claimed capital loss carryover or any other
losses. See sec. 6001; Rules 142(a), 149(b); Horn v.
Commissioner, supra; Smith v. Commissioner, supra; sec.
1.6001-1(a), (e), Income Tax Regs.
We do not accept petitioner’s excuse that he intends to file
returns for 1992 through 1994. Petitioner has procrastinated and
has failed to file the returns more than 1 year after finding his
1987 return in 2002. See, e.g., Montgomery v. Commissioner, 122
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