Parsley, et ux. v. Comr., T.C. Sum. Op. 2011-35

(court upholds accuracy-related penalty against married couple for under-reporting capital gain from sale of commercial property; income tax basis of the property that was acquired via gift and later via divorce proceedings improperly computed; taxpayers were real estate professionals). 

CALT does not provide legal advice. Any information provided on this website is not intended to be a substitute for legal services from a competent professional. CALT's work is supported by fee-based seminars and generous private gifts. Any opinions, findings, conclusions or recommendations expressed in the material contained on this website do not necessarily reflect the views of Iowa State University.

RSS​ Facebook Twitter