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Assuming an understatement did not relate to a reportable transaction, which of the following would prevent the imposition of the substantial understatement penalty? - the
Assuming an understatement did not relate to a reportable transaction, which of the following would prevent the imposition of the substantial understatement penalty?
- the position is reasonable and well-informed
- the taxpayer has adequately disclosed the position on Form 8275-R
- the taxpayer believed with greater than 33% certainty that the tax treatment was correct
- there was substantial weight from the authorities supporting the tax treatment
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