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account on September 30, 1995, made no contributions to that
account in 1995 or 1996, and did not roll over any funds from
that account to his IRA in 1995 or 1996.
Bechtel’s records of petitioner’s earnings, distributions,
losses, and balances for his thrift savings account state that
Bechtel had distributed all of the funds in the thrift savings
account to petitioner by the end of 1994, that petitioner made no
contributions to his thrift savings account in 1995 or 1996, and
that petitioner had no balance in his thrift savings account on
September 30, 1995.
Petitioners point out that the Bechtel quarterly statement
of account as of September 30, 1995, said: “The maximum amount
you can withdraw from your after-tax Thrift Account and 401(k)
contributions is $35,317.70", and they contend that this
establishes that petitioner had a balance of $35,317.70 in his
thrift savings account on September 30, 1995. We disagree. The
quarterly statement states that petitioner’s thrift savings
account balance was zero on September 30, 1995. Bechtel
contributed on behalf of petitioner a total of $35,317.70 to his
section 401(k) account in 1992, 1993, 1994, and 1995. Petitioner
had no funds in his thrift savings account to roll over to the
Nations Bank IRA on September 30, 1995, and he made no
contributions to his thrift savings account, nor did he roll over
any amount from that account to his IRA in 1995 or 1996.
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