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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Nasty P who wrote (148)10/28/1997 11:56:00 AM
From: Colin Cody  Read Replies (2) of 5810
 
Hi, I looked up Peyton G. Nevitt et ux v Comm 20 T.C. 318 and it doesn't appear to have ANYTHING to do with wash sales.
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My summary says the taxpayer underreported $3,082.50 in diividends.
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The point of the case seems to be the 5 year statute of limitations based on a 25%+ underreporting of gross income.
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Could you clarify the case you mean, and perhaps post a summary of it?
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Colin
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