Mary Holland Trull - Page 3




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          Federal income tax in the amount of $560.  This Court must decide           
          whether petitioner is entitled to a deduction in the amount of              
          $2,000 for a contribution to her individual retirement account              
          (IRA) for the taxable year 1996.                                            
               Some of the facts in this case have been stipulated and are            
          so found.  Petitioner resided in Raleigh, North Carolina, at the            
          time she filed her petition.                                                
               Petitioner Mary Holland Trull (petitioner) is a computer               
          programmer.  During 1996, petitioner was employed by Carolina               
          Power and Light Company (CP&L) until January 17, when she was               
          laid off.  The official termination date on CP&L records is March           
          20, 1996.  During her employment with CP&L, petitioner was                  
          covered by an employer pension plan.  She was vested in the CP&L            
          pension plan.  Petitioner contributed $1,175.46 to the CP&L                 
          pension plan in 1996.  Even though her employment was terminated,           
          petitioner did not forfeit her right to the pension plan funds.             
          After leaving CP&L, petitioner was employed by Wake County                  
          Hospital System, Inc. (WCHS) beginning February 26, 1996.                   
          Petitioner was not covered by the WCHS employer pension plan                
          during 1996.  Petitioner’s adjusted gross income for the year in            
          issue exceeded $35,000.                                                     
               During 1996, petitioner also made a contribution in the                
          amount of $2,000 to her IRA.  She deducted the $2,000 IRA                   
          contribution on her 1996 Federal income tax return.  She filed              






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