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Petitioner timely amended his 1996 return to claim a refund
for the tax associated with the 1996 IRA distribution. In the
answer, respondent denied petitioner’s claim for overpayment.
OPINION
In years where this Court has jurisdiction to redetermine a
taxpayer’s deficiency, we also have jurisdiction to decide
whether the taxpayer has made an overpayment of income tax. Sec.
6512(b)(1); Winn-Dixie Stores, Inc. & Subs. v. Commissioner, 110
T.C. 291, 295 (1998). Respondent issued a notice of deficiency
for 1996, and petitioner filed a timely petition with this Court
contesting respondent’s determinations. Accordingly, we have
jurisdiction to decide whether petitioner has an overpayment for
1996.
Petitioner contends he has 3 years to amend his return to
roll over his IRA, to claim a refund of the taxes paid on his IRA
distribution, and to report his “correct” minimum distribution.
Section 6511(a), however, provides the period of limitations for
filing a claim for credit or refund of an overpayment of any tax.
Generally, distributions from IRAs are includable in the
distributee’s income in the year of distribution as provided in
section 72. Sec. 408(d)(1); Schoof v. Commissioner, 110 T.C. 1,
7 (1998). Section 408(d)(3) provides an exception to this rule
for “rollover contributions”. To qualify as a rollover
contribution, an IRA distribution must be rolled over within 60
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Last modified: May 25, 2011