Michael G. Bunney - Page 3

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               2.  Whether petitioner is subject to the 10-percent                    
          additional tax for early distributions under section 72(t).  We             
          hold he is.                                                                 
               3.  Whether petitioner is liable for the negligence                    
          accuracy-related penalty.  We hold he is, but only as to the                
          conceded items.                                                             
               Unless otherwise indicated, section references are to the              
          Internal Revenue Code in effect for the year in issue.  Rule                
          references are to the Tax Court Rules of Practice and Procedure.            
          Dollar amounts are rounded to the nearest dollar.                           
               The stipulation of facts and the exhibits submitted                    
          therewith are incorporated herein by this reference.  Petitioner            
          was born on August 23, 1944.  He resided in California when the             
          petition in this case was filed.                                            
               Petitioner was formerly married.  He and his former spouse             
          were granted a Judgment of Dissolution of Marriage (dissolution             
          judgment) on August 17, 1992.  The dissolution judgment stated:             
          “IT IS FOUND that all of MICHAEL BUNNEY’S retirement valued at              
          approximately $120,000 was accumulated by the parties prior to              
          their separation and ordered to be divided equally between the              
               Petitioner’s retirement savings consisted of several IRA               
          accounts.  The money used to fund petitioner’s IRA’s had been               

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