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is entitled for the year at issue to a deduction for his claimed
loss with respect to his radiology practice.
We turn now to the 10-percent additional tax under section
72(t) that respondent determined for the year at issue with
respect to the retirement plan distributions that petitioner
received from Vanguard during that year. Petitioner acknowledges
that if the Court were to find that he must include those distri-
butions in his gross income for the year at issue, he is liable
for the 10-percent additional tax under section 72. We have
found that petitioner is required to include in his gross income
for the year at issue the retirement plan distributions in
question. On the record before us, we find that petitioner is
liable for the 10-percent additional tax.
We turn finally to the accuracy-related penalty under
section 6662(a). Petitioner acknowledges that if the Court were
to find that he must include the retirement plan distributions in
question in his gross income for the year at issue and that he is
not entitled to a deduction for his claimed loss with respect to
his radiology practice, he is liable for the accuracy-related
penalty under section 6662(a). We have found that petitioner is
required to include in his gross income for the year at issue
those distributions and that he is not entitled for that year to
any such deduction. On the record before us, we find that
petitioner is liable for the year at issue for the accuracy-
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Last modified: May 25, 2011