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hands on those records”. Because petitioner did not produce any
records or other evidence showing medical expenses incurred in
2001 for himself or his dependent, he has not shown that the
exception applies.
Petitioner argues that he falls within the exception for
distributions made to unemployed individuals for health insurance
premiums under section 72(t)(2)(D) because he was unemployed for
12 weeks during 2001 and “solicited for individual health
insurance and was quoted health insurance premium [sic] over
* * * $400.00 per month for a family plan to include his spouse
and minor dependent child.” However, petitioner has not produced
any evidence showing that he paid health insurance premiums
during that time. Therefore, this exception does not apply to
petitioner.
Finally, petitioner argues that he falls within the
exception for distributions made for qualified first-time home
buyers under section 72(t)(2)(F). “Qualified first-time
homebuyer distribution” is any payment received by an individual
to the extent that the distribution is used by the individual
within 120 days to pay qualified acquisition costs with respect
to a principal residence of a first-time home buyer. Sec.
72(t)(8)(A). Qualified acquisition costs are costs of acquiring,
constructing, or reconstructing a residence. Sec. 72(t)(8)(C).
A first-time home buyer is an individual who had no present
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Last modified: May 25, 2011