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distribution, commenced the 60-day period in which to rollover
that portion of the distribution.
The Court disagrees that a rollover occurred or could have
occurred. A rollover occurs when distributions from certain
qualified retirement plans are contributed or deposited into
another qualified retirement plan within a 60-day time period.
Secs. 402(c)(4), 403(a)(4), 403(b)(8), 408(d)(3)(A). All of the
distributions petitioners received during 1999, including the SFB
distribution, were from nonqualified plans. Therefore, no
rollover could have occurred. Sec. 1.402(c)-2 Q&A-1, Q&A-2, Q&A-
3, Income Tax Regs. Because of this conclusion, the Court need
not address whether the timing requirements of a rollover were
met or when those requirements began to run.
Secondly, petitioners argue that respondent is equitably
estopped from contending that the SFB and Glenbrook distributions
were not distributions that qualified for rollover treatment. In
advancing this argument, petitioners claim to have detrimentally
relied on the instructions to Form 1040 in reporting the tax
consequences of their 1999 distributions. Specifically,
petitioners cite page 24 of these instructions, which states: “A
rollover is a tax-free distribution of cash or other assets from
one retirement plan that is contributed to another plan.”
Petitioners interpret these instructions to mean that they could
have rolled over their distributions and eliminated their
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