- 6 -
Therefore, in order for petitioner to prevail, she must show that
the distributions fall under one of the exceptions under section
72(t)(2).
With respect to section 72(t), this Court has repeatedly
held that it is bound by the list of statutory exceptions
enumerated in section 72(t)(2). See, e.g., Arnold v.
Commissioner, 111 T.C. 250, 255-256 (1998); Schoof v.
Commissioner, 110 T.C. 1, 11 (1998); Clark v. Commissioner, 101
T.C. 215, 224-225 (1993); Swihart v. Commissioner, T.C. Memo.
1998-407; Pulliam v. Commissioner, T.C. Memo. 1996-354; Roundy v.
Commissioner, T.C. Memo. 1995-298, affd. 122 F.3d 835 (9th Cir.
1997).
The exceptions relevant to the case at hand are found in
section 72(t)(2)(D) and section 72(t)(2)(B). Section
72(t)(2)(D), provides that the following distributions are not
subject to the additional tax:
(i) In General.--Distributions from an individual
retirement plan to an individual after separation from
employment--
(I) if such individual has received
unemployment compensation for 12 consecutive weeks
under any Federal or State unemployment
compensation law by reason of such separation,
(II) if such distributions are made during
any taxable year during which such unemployment
compensation is paid or the succeeding taxable
year, and
(III) to the extent such distributions do not
exceed the amount paid during the taxable year for
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