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After a concession by petitioner,2 the issues for decision
are: (1) Whether petitioner is liable for the 10-percent
additional tax on an early distribution from a qualified
retirement plan under section 72(t)(1) for the year at issue, and
(2) whether petitioner is entitled to deduct $17,900 paid to his
former spouse during 1997 as alimony. The second issue arises
out of respondent’s amendment to answer. The undisputed facts in
the record permit the Court to decide the issues without regard
to the burden of proof.
Some of the facts were stipulated, and those facts, with the
annexed exhibits, are so found and are incorporated herein by
reference. At the time the petition was filed, petitioner's
legal residence was Houston, Texas.
During the year at issue, petitioner was employed as a
shuttle bus driver for Avis Rent-A-Car (Avis). From 1987 to
1996, according to petitioner, Avis established and maintained a
qualified Employee Stock Ownership Plan (ESOP) in which
petitioner was a participant. In 1996, the employees of Avis
voted to sell their stock held in the ESOP to a private company.
1(...continued)
the Internal Revenue Code in effect for the year at issue.
2 Petitioner conceded an unreported $469 distribution
from the Teachers Retirement System of Texas that was received
during 1997, as well as the 10-percent addition to tax under sec.
72(t) attributable to that distribution.
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Last modified: May 25, 2011