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INT as provided by Nationwide. Petitioner disagrees with
respondent’s determination.
Although not raised by the parties, under section 7491(a),
the burden of proof with respect to any factual issue will shift
to respondent if petitioner’s testimony with respect to the issue
is credible. At trial, petitioner testified that the life
insurance policies were owned by his father, despite their having
his Social Security number on them, and that he neither owned,
nor knew himself to be a beneficiary, of either one of the
policies at issue. Petitioner further stated that he did not
recall making any type of premium payments to Nationwide Life
Insurance Company, and that he did not receive any income from
either of the policies during the taxable year at issue.
Petitioner also testified that his parents never indicated to him
that they had purchased a life insurance policy on his behalf.
According to petitioner, the only insurance that he had was
through AquaProof and that was with an entirely different
insurance company. Respondent, who has the burden of production
as to this issue pursuant to section 6201(d), offered no evidence
to rebut petitioner’s testimony, which we find credible.
We accordingly conclude that petitioner did not receive any
income from Nationwide in taxable year 2003, and that if he did
have any interest in the policies it was, at best, as a nominee
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