- 56 -
her, let alone at the hourly rate of $17 or $55, see discussion
supra note 48. On the record before us, we further find that
petitioners have failed to show that Ms. Whitehead received any
compensation from Burien Nissan during 1996, let alone the $6,600
of compensation that they reported for that year.
Based on our examination of the entire record before us, we
find that petitioners have failed to establish that they are
entitled to a deduction for 1996 for contributions made to Ms.
Whitehead’s IRA for that year in excess of the $250 conceded by
respondent.
Excise Tax Under Section 4973(a)
Respondent determined that petitioners are liable for each
year at issue for an excise tax of $120 under section 4973(a).
On brief, respondent concedes a portion of that amount and
contends that petitioners are liable for each year at issue for
an excise tax of $105 under section 4973(a).50
Section 4973(a) imposes an excise tax in an amount equal to
6 percent of the excess contributions to, inter alia, an IRA.
Sec. 4973(a)(1). As pertinent here, the term “excess contribu-
tions” is defined to mean (1) the excess of the amount contrib-
uted for the taxable year to the IRA over the amount allowable as
50Respondent’s concession with respect to petitioners’
liability for each year at issue for the excise tax under sec.
4973(a) is as a result of respondent’s concession that petition-
ers are entitled to a deduction of $250 for 1996 with respect to
the contributions made to Ms. Whitehead’s IRA.
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