Which of the following is the appropriate comfort level for a transaction that does NOT have a significant purpose of tax avoidance, and for which adequate disclosure is not necessary (i.e., which is the general comfort level that does not require disclosure)? Substantial authority Reasonable basis Realistic possibility of success More likely than not

Which of the following is the appropriate comfort level for a transaction that does NOT have a significant purpose of tox avoidance, and for which adequate disclosure is not necessary (L.e. which is the general comfort fevel that does not require disclosure)? Substantial authority Reasonable basis Realistic possibility of success More likely than not