Wallace F. and Mi-Ja H. Smith - Page 6




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          distribution).  Of the total pension distribution for 1997,                 
          $335.39 of this amount, i.e., $30.49 per month for 11 months, was           
          attributable to after-tax employee contributions and, thus, was             
          nontaxable.  The portion of petitioner's total pension                      
          distribution that was includable in petitioners' 1997 income was            
          $61,042.74.                                                                 
               In April 1997, the Defined Contribution Retirement Plan of             
          the University of California Benefits Program distributed                   
          $12,623.61 to petitioner (the defined contribution plan                     
          distribution).  Of this amount, petitioner actually received                
          $9,846.42, with $2,524.72 withheld for Federal income taxes and             
          $252.47 withheld for State income taxes.  Also in April 1997, the           
          University of California Benefits Program distributed to                    
          petitioner $14,207.14 from his Capital Accumulation Provision               
          (CAP) Retirement Account (the CAP distribution).  Of this amount,           
          petitioner received $11,081.57, with $2,841.43 withheld for                 
          Federal income taxes and $284.14 withheld for State income taxes.           
               As stated previously, petitioners reported on their return             
          total pension and annuity income of $61,378.13, with $41,917                
          being taxable, and other income as liquidated savings of                    
          $44,569.82 with zero being taxable.  Thus, in connection with the           
          three distributions from Berkeley, i.e., the pension                        
          distribution, the defined contribution plan distribution, and the           
          CAP distribution, petitioners included $41,917 in gross income.             





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