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that exceeded $150,000 as an excess distribution from a qualified
retirement plan.8 Respondent then determined that petitioner was
liable for the excise tax under section 4980A in an amount equal
to 15-percent of such excess distribution.
D. Remaining Matters
The present value of petitioner's accrued benefit in the
Retirement System as of August 1, 1986, did not exceed $562,500.
Petitioner has not made an election under section 4980A(f).
II. Discussion
The issue for decision is whether petitioner is liable for
the 15-percent excise tax for an excess retirement distribution
under section 4980A.
A. Statutory Analysis
Section 4980A imposes a 15-percent excise tax on the excess
distributions with respect to an individual during the calendar
year. Sec. 4980A(a). As relevant herein, an "excess
distribution" is defined as the aggregate amount of the
retirement distributions with respect to the individual during
the calendar year to the extent that such amount exceeds
8 The computation was as follows:
Taxable distribution $327,814
less: threshold (150,000)
Excess distribution 177,814
On brief, respondent concedes that the excess distribution was
only $177,655.59, i.e., $327,655.59 (the taxable portion of the
Transfer Refund) less $150,000.
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