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pursuant to section 6662(a) of $202,668 for 2000, and a
deficiency of $1,240,280 and a penalty pursuant to section
6662(a) of $247,936 for 2001.
On February 10, 2004, petitioners timely filed a petition
with the Court disputing the notices of deficiency for the years
in issue. On November 10, 2004, petitioners filed a motion for
leave to amend petition and proposed amendment pursuant to Rule
41(a). Petitioners requested leave to file an amendment to
petition and stated:
3. The issue raised by the proposed amendment was
recently discovered after numerous conferences with Appeals
and review of Petitioners [sic] records for 2000 and 2001.
The audit for these years was just completed.
4. The question raised in the proposed argument [sic]
is whether Petitioner, Ron Lehrer, was a trader in
securities and, if so, whether the provision of �475(f)
apply [sic] so as to allow ordinary losses as well as
ordinary gains in the years in question.
5. The Amendment of this Petition was recently
discussed with Respondent’s counsel and the Appeals officer.
6. All documents relating to the issue raised in the
proposed amendment have been furnished to Respondent. The
applicability of �475(f) is basically a legal issue.
7. Although it is in the discretion of the Court to
permit amendment of the Petition, the Court should permit
the Petitioners to amend their Petition to raise the issue
because all issues raised in the Notices, except the
negligence penalty, have been settled. The new issue was
recently discovered and, all documents relating to this
issue have been furnished to Respondent.
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Last modified: May 25, 2011