Charlotte Marie Scott - Page 3

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               Respondent determined a deficiency in petitioner’s Federal             
          income tax of $1,000.11 for the taxable year 2000.                          
               The issue for decision is whether petitioner is liable for             
          the 10-percent additional tax on an early distribution pursuant             
          to section 72(t).                                                           
               Some of the facts have been stipulated and are so found.               
          The stipulation of facts and the attached exhibits are                      
          incorporated herein by this reference.  Petitioner resided in               
          Hillsborough, California, on the date the petition was filed in             
          this case.                                                                  
               Charlotte Marie Scott (petitioner) began working for Digital           
          Equipment Corp. in 1985.  Petitioner worked 13 years for Digital            
          Equipment Corp. until she was laid off in 1998.  During her                 
          employment with Digital Equipment Corp., petitioner set up an               
          Individual Retirement Account (IRA).  This IRA was established              
          through Donaldson, Lufkin and Jenrette Securities Corp. as an               
          agent for Gruntal and Co., LLC.  At the end of her employment,              
          this account was valued at about $30,000.                                   
               After being laid off from Digital Equipment Corp.,                     
          petitioner received unemployment benefits for the remainder of              
          1998 to April 1999, when she was employed by High Voltage                   
          Engineering Corp. (referred to as Robicon).  Petitioner worked              
          for Robicon from April to October 1999, when she was again laid             
          off.  While with Robicon, petitioner became a member of her                 

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