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Sec. 1.408-4(a)(1), Income Tax Regs.
In 2000, petitioner received IRA distributions from
Educational Systems Employees Credit Union totaling $11,400. The
Form 1099-R issued to petitioner by Educational Systems Employees
Credit Union with respect to the IRA distributions shows that the
distributions totaling $11,400 are fully taxable. Petitioner
does not dispute that she received the IRA distributions.
Petitioner did not report the IRA distributions as income on
her 2000 Federal income tax return. Instead, petitioner claims
that the distributions received during 2000 are from amounts
rolled over during taxable year 1999 from her deceased spouse’s
sec. 401(k) plan into her IRA with Educational Systems Employees
Credit Union. Further, petitioner claims that these amounts can
be traced to after-tax contributions. Therefore, petitioner
argues, a portion of the amount distributed from her IRA in 2000
may be exempt from tax pursuant to section 643(a) of the Economic
Growth and Tax Relief Reconciliation Act of 2001, Pub. L. 107-16,
115 Stat. 38.4
4The Economic Growth and Tax Relief Reconciliation Act of
2001 Pub. L. 107-16, sec. 643(a), 115 Stat. 122, provides:
(a) Rollovers From Exempt Trusts.--Paragraph (2) of
section 402(c) (relating to maximum amount which may be
rolled over) is amended by adding at the end the following:
“The preceding sentence shall not apply to such distribution
to the extent--
(continued...)
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Last modified: May 25, 2011