David H. Peck examines whether a basis overstatement constitutes an omission from gross income and whether the three-year or six-year limitations period applies to overstated basis claims. This article appears in the Journal of Tax Practice and Procedure.
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This story is from the CCH’s monthly Focus on Tax newsletter, which provides advise and guidance on federal and state tax issues for tax and accounting professionals.
Read this article from CCH’s Journal of Taxation of Financial Products