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In general, section 72 deals with the tax treatment of
distributions from pensions, annuities, and IRA's. See secs.
72(a), (e), 408(d). Section 1.72-1(a), Income Tax Regs.,
provides that section 72 prescribes rules relating to the
inclusion in gross income of amounts received under a life
insurance, endowment, or annuity contract unless such amounts are
specifically excluded from gross income under other provisions of
chapter 1 of the Code. The burden is on petitioner to
demonstrate that the payments in question fall into a specific
statutory exclusion. See Commissioner v. Glenshaw Glass Co., 348
U.S. 426, 429-431 (1955).
In this case, petitioner received IRA distributions of
$89,100 and $29,500 in 1995 and 1996, respectively.
Additionally, petitioner received $39,506 in total pension and
annuity plan distributions in 1996.3 Petitioner provided no
evidence nor have we found anything in the record suggesting that
any part of the IRA or pension and annuity plan distributions are
excludable from gross income. Accordingly, we conclude that
petitioner received gross income of $89,100 in 1995 and $69,006
in 1996.
3In the notice of deficiency, respondent determined that
petitioner received $69,006 from IRA distributions in 1996.
However, the parties stipulated that petitioner received $29,500
in total IRA distributions and $39,506 in total pension and
annuity plan distributions in 1996. The parties' stipulation
does not affect the total deficiency determined against
petitioner.
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