- 2 - petitioner is liable for income tax on the gain from sale of her residence in 1995 and whether petitioner is entitled to have interest abated on her tax liability. Background Some of the facts have been stipulated and are so found. The stipulation of facts and the attached exhibits are incorporated herein by this reference. Petitioner resided in Tokyo, Japan, at the time she filed her petition. Petitioner sold her residence in Modesto, California, on April 18, 1995. Petitioner did not make a payment of tax related to the sale of her residence with her 1995 Federal income tax return. Petitioner attached to her return a Form 2119, Sale of Your Home, on which she reported a gain on the sale of $126,097. Petitioner also indicated on the Form 2119 that she intended to replace her home within the “replacement period”. Petitioner moved to Japan and has lived there continuously since April 5, 1997. On May 12, 2000, petitioner went to respondent’s Modesto, California, office and spoke with Group Manager Timothy Herrera. Mr. Herrera told petitioner that she should pay the tax liability for the 1995 sale of her residence. Petitioner paid respondent $32,0602 for the tax liability related to the sale of her residence. 2 All amounts are rounded to the nearest dollar.Page: Previous 1 2 3 4 5 6 7 Next
Last modified: May 25, 2011