Furthermore, even though the taxpayers reported substantial losses, they never developed a written business plan or made a budget.

For several years, the taxpayer reported the amounts received under the participation clause as income.

Accordingly, the taxpayer reported a capital gain of $9.25 million.

If the shares were sold yesterday for $53 each, the taxpayer would report a capital loss of $7 a share, or $7,000.

This system was now replaced by the taxpayers themselves reporting data on income and wealth.

In other words, A taxpayer must report the receipt of income for the time that she or he has control over it.

In all situations, taxpayers must report any 2010 conversion on Form 8606 for tax year 2010.

Some income, of course, is not reported on W-2's or 1099's, but taxpayers must still report it.

An individual taxpayer must report his or her total income for the year.

Apparently, some taxpayers did not properly report the municipalities in which they lived.