Question: 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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