- 2 -
was P's taxed retirement savings; thus, the
distribution of such contribution in 1991 is not
includable in P's income. Secs. 72(e)(6), 408(d)(1),
I.R.C. 1986.
Thomas F. DeCaro, Jr., for petitioners.
Alan R. Peregoy, for respondent.
OPINION
DAWSON, Judge: This case was assigned to Special Trial
Judge Robert N. Armen, Jr., pursuant to the provisions of section
7443A(b)(4) of the Internal Revenue Code of 1986, as amended, and
Rules 180, 181, and 183.1 The Court agrees with and adopts the
Opinion of the Special Trial Judge, which is set forth below.
OPINION OF THE SPECIAL TRIAL JUDGE
ARMEN, Special Trial Judge: For the taxable year 1991,
respondent determined a deficiency in petitioners' Federal income
tax, as well as a deficiency in Federal excise tax under section
4980A,2 in the total amount of $58,464.
1 Unless otherwise indicated, all section references are
to the Internal Revenue Code in effect for 1991, the taxable year
in issue. All Rule references are to the Tax Court Rules of
Practice and Procedure.
2 Sec. 4980A imposes a 15-percent excise tax on excess
distributions from qualified retirement plans. This tax is
included within ch. 43 of the I.R.C. and is subject to the
deficiency procedures set forth in subch. B of ch. 63 of the
I.R.C. See sec. 6211(a).
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