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respondent's objections regarding Exhibit 94 and sustain
respondent's objections regarding Exhibits 8 and 10.5
IRA
The first issue we must decide is whether the $17,558
petitioner withdrew from the Varian IRA is includable in gross
income, and if so, whether petitioner is subject to the 10-
percent additional tax on early distributions under section
72(t). The parties do not dispute that petitioner withdrew
$17,558 on November 28, 1990, from a qualified IRA. Petitioner
testified that he transferred the entire amount on December 18,
1990, to an account at the Hong Kong & Shanghai Banking Corp.,
which, he argues, should qualify him to exclude the withdrawn
amounts from income as a rollover contribution. Respondent first
disputes whether such a transfer has been demonstrated by the
evidence but more importantly contends that a valid rollover did
not occur in any event because the transfer was to a foreign
bank.
4The Substitute Form 1098 marked as Exhibit 9 bears the same
account number as that written on six of petitioner's checks
offered by him at trial to substantiate his mortgage interest
payments and received into evidence without objection by
respondent.
5Respondent's hearsay objections to Exhibits 8 and 10 are
well taken, and there was no advance notice of the evidence to
respondent as required for the invocation of the hearsay
exception under rule 803(24) of the Federal Rules of Evidence.
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