Gary M. Jadro - Page 2

                                        - 2 -                                         
          deficiency for petitioner’s 2000 taxable year in the amount of              
          $50,729, and additions to tax pursuant to section 6651(a)(1) and            
          (2) of $11,414.02 and $4,819.25, respectively, and pursuant to              
          section 6654 of $2,728.40.1  Subsequently, the parties reached a            
          partial settlement under which petitioner is liable for a reduced           
          tax deficiency of $13,170 and is not liable for additions to tax            
          pursuant to sections 6651(a)(2) and 6654.  The remaining issue              
          for decision is whether petitioner is liable for the addition to            
          tax pursuant to section 6651(a)(1) for the 2000 taxable year.               
                                  FINDINGS OF FACT                                    
               At the time this petition was filed, petitioner resided in             
          St. Cloud, Florida.                                                         
               During 2000, petitioner received $45 in dividends, $1,009 of           
          interest income, and $7,735 of gross rental income.  Also in                
          2000, petitioner sold a piece of commercial property for                    
          $293,000, which generated $91,314.90 in cash proceeds and a gain            
          for petitioner.  In addition, petitioner engaged in numerous                
          stock sales and received proceeds totaling $176,717.                        
               In 2001 petitioner went to an Internal Revenue Service (IRS)           
          office in Paramus, New Jersey, for help filling out his tax                 
          return and was instructed to call a toll-free phone number                  
          because in person help was not available for Form 1040 Schedule             


               1Unless otherwise indicated, all section references are to             
          the Internal Revenue Code (Code) in effect for the year in issue.           





Page:  Previous  1  2  3  4  5  6  7  Next

Last modified: May 25, 2011