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Respondent determined a deficiency in petitioner’s Federal
income tax for the taxable year 1998 of $1,349.
The issue is whether petitioner failed to include in income
certain U.S. Treasury bill interest and original issue discount
income. An adjustment to Social Security annuity income is
computational and will be resolved by the Court’s holding in this
case.
The stipulation of facts and the attached exhibits are
incorporated herein by this reference. At the time the petition
was filed, petitioner resided in New York, New York.
In 1998, petitioner owned a number of Treasury marketable
securities (including bills and an inflation-indexed debt
instrument), of which the following are in issue:
CUSIP No. Par Amount
9127944T8 $20,000
9127944U5 $20,000
9127944WJ $25,000
9127945A8 $20,000
9128272M3 $15,000
The Department of Treasury, Bureau of Public Debt (the
Bureau), provided the following information regarding the
Treasury bills and inflation-indexed debt instrument which is
part of the record of this case:
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