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decedent’s distribution from the TIAA-CREF accumulated annuity
funds.
Petitioners did not include the $150,000 distribution
petitioner constructively received from his father’s estate on
their timely filed, joint 2000 Federal income tax return.
In the notice of deficiency, respondent determined that the
$150,000 constructively received by petitioner is includable in
petitioners’ income as income in respect of a decedent under
section 691. Other adjustments made in the notice of deficiency
are computational and not in dispute.
Discussion
At the outset we note that petitioners now acknowledge the
errors made on decedent’s final Federal income tax return and
estate tax return. They distance themselves from those errors
and also retreat from their position taken earlier that, if
otherwise includable in their income, the $150,000 distribution
was subject to exclusion on account of the “roll over”.
Respondent does not suggest that any of these errors in any way
estop petitioners from their present position that the $150,000
distribution, constructive or otherwise, was an excludable
inheritance, see sec. 102(a), and not income in respect of a
decedent within the meaning of section 691(a). Furthermore,
nothing in the record suggests that there has been any
deviousness or mischief surrounding the dates reflected on the
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