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in section 72(m)(7), during the year in issue. Since petitioner
fails to qualify for any of the statutory exceptions under
section 72(t)(2), we hold that he is liable for the 10-percent
additional tax on distributions from a qualified retirement plan
for 1997 as provided in section 72(t)(1). Respondent is
sustained on this issue.
Reviewed and adopted as the report of the Small Tax Case
Division.
Decision will be entered
for respondent.
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Last modified: May 25, 2011