- 2 - The issues remaining for decision are: (1) Is petitioner required to include in his gross income for the year at issue certain distributions from his retirement plan (retirement plan distributions) that he received during that year? We hold that he is. (2) Is petitioner entitled for the year at issue to a deduction for a claimed loss with respect to his radiology practice? We hold that he is not. (3) Is petitioner liable for the year at issue for the 10- percent additional tax under section 72 with respect to his retirement plan distributions that he received during that year? We hold that he is. (4) Is petitioner liable for the year at issue for the accuracy-related penalty under section 6662(a)? We hold that he is. FINDINGS OF FACT Many of the facts have been stipulated and are so found. At the time he filed the petition in this case, petitioner resided in Henderson, Nevada. During 1998, petitioner received from Vanguard Fiduciary Trust Co. (Vanguard) two retirement plan distributions in the amounts of $131,555 ($131,555 retirement plan distribution) and $42,704 ($42,704 retirement plan distribution), respectively. Vanguard issued to petitioner Form 1099-R, Distributions FromPage: Previous 1 2 3 4 5 6 7 8 Next
Last modified: May 25, 2011