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Stock Amount realized
Ascend Communications, Inc. $2,020.96
Apple Computer Co. 1,000.93
Medical Manager Corp. 799.16
Excel Communications 916.69
Vitesse Semiconductor 2,439.70
Petitioner had capital losses in 1998 of $23,990.08 on the
sale of Ucarb International, Inc. stock, and of $60,577.93 on the
sale of Boston Chicken, Inc. stock.
Petitioner received cash of $32.15 in lieu of stock in
Cisco, Inc., in 1998.
Petitioner had net capital losses of $77,358.42 in 1998 from
sales or other disposition of stocks other than IBM and Merck.
He had net capital gain of $408,092.98 in 1998.
C. Petitioner’s Dividends and Interest in 1998
Petitioner had dividends of $6,632 and interest of $149 in
1998.
D. Petitioner’s Failure To File a 1998 Tax Return
Petitioner filed income tax returns for 1979 through 1997.
He claimed a $15,547 net operating loss carryover on Schedule D,
Capital Gains and Losses, attached to his 1997 return, but he did
not state from which year or years he was carrying the loss. He
did not file an income tax return for 1998.
On April 15, 1999, petitioner mailed a letter to the
Internal Revenue Service (IRS), stating that he and his wife were
seeking legal advice as to whether they were required to file a
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