-4-
demonstrate that the payment in question falls into a specific
statutory exclusion. Commissioner v. Glenshaw Glass Co., 348
U.S. 426, 429-431 (1955).
Petitioner concedes that he received the payments in
question in the amounts determined by respondent.2 Petitioner
does not contend that any of the payments fall into a specific
statutory exclusion. Consequently, we sustain respondent's
determination that the amounts in question are includable in
petitioner's gross income.
2. Section 72(t) Additional Tax
Section 72(t)(1) imposes an additional tax equal to 10
percent of the portion of an early distribution from a "qualified
retirement plan" that is includable in the taxpayer's gross
income. An individual retirement account (IRA) is included in
the definition of a "qualified retirement plan". Secs. 72(t)(1),
4974(c)(4).
Section 72(t)(2) provides for certain exceptions to the
general rule contained in paragraph (1). One important exception
provides that the 10-percent additional tax does not apply if the
distribution was made on or after the date that the taxpayer
attained age 59 1/2. Sec. 72(t)(2)(A)(i).
2In the stipulation of facts, petitioner concedes that he
received the payments in question, but some of the amounts
stipulated are slightly greater (by less than one dollar) than
the amounts determined in the notice of deficiency. To the
extent the amounts in the stipulation of facts exceed the amounts
in the notice of deficiency, we deem respondent to have conceded
the excess.
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