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Unlike the Stipulation and Order filed August 3, 1999, this QDRO
made no mention of the distribution of $10,000 to Mr. Seidel or
the distribution of funds to pay the debts secured by the deed of
trust. However, the QDRO incorporated into its terms the
Stipulation and Order.
Petitioner, through her attorney as her agent, received a
net distribution of $60,060 ($77,000 less Federal and State taxes
withheld of $16,940). Petitioner also received a Form 1099,
Distributions from Pensions, Annuities, Retirement or Profit-
Sharing Plans, issued by New York Life Insurance Company for
taxable year 1999 reflecting a taxable distribution of $77,000.
Upon receipt of this distribution, petitioner did not redeposit
the funds into the CWSC 401(k) plan, nor did she roll the funds
over into any other qualified plan within the 60-day grace period
allowed by section 402(c).1
On August 27, 1999, petitioner signed cashier’s checks as
follows:
1Although a qualified pension plan is exempt from taxation
under sec. 501(a), any amounts actually distributed from such a
plan generally must be included in the distributee’s gross
income. Sec. 402(a). In order to avoid the tax consequence of a
plan distribution, the distributee may “roll over” the amount of
the distribution into another eligible plan within 60 days. Sec.
402(c).
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