Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Phil, you wrote

"After rest and reflection, a suggested step before my earlier suggestion. First write him a nice letter explaining his error, with a cite to Code section 121 and the regs under it. You could even cite Example 1 of 26CFR §1.121-1(c)(4), which is exactly your fact pattern except that the taxpayer in the reg moved out of state. Then ask him to prepare the amended return for no additional charge."

Thanks again for your help. Have a couple more questions if you have time or interest at this point.

I have to ask if you are a CPA? Can you send me the link showing the code you mentioned above?

I have spoken with 5 CPAs now and the last two agreed with the folks on this board. Thus, I'm truly confused as all 5 CPAs were independent CPAs and seasoned at that and have a difference of opionion. Hence, if I were to file an amended return I would want to know for sure I was doing the right thing.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.