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received from Bank One, N.A. (Bank One), in 2001 is taxable; and
(2) what amount of the IRA distributions totaling $9,788
petitioner received from Janus Capital Group (Janus) in 2001 is
taxable.
FINDINGS OF FACT
Some of the facts have been stipulated and are so found.
The stipulation of facts and the referenced exhibits are
incorporated herein by this reference. At the time he filed the
petition, petitioner resided in Orlando, Florida.
Interest
Petitioner held three certificates of deposit (CDs) with
Bank One that matured in 2001. During 2001, petitioner received
interest payments from Bank One of $568.53, $789.21, and $944.72.
IRA Distributions
As of May 23, 2000, petitioner had a balance of $9,430.82 in
a Strong Funds (Strong) IRA account.
On August 17, 2000, petitioner established a traditional IRA
account with Janus with funds transferred from the Strong IRA
account. Petitioner filled out a “Janus Traditional IRA
Application”, and under the heading “Traditional IRA” he checked
the box for “Transfer of existing Traditional IRA from another
custodian.”
During 2001, petitioner received IRA distributions from
Janus of $19.86, $393.19, $5,410.13, and $3,966.76. Janus sent
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Last modified: May 25, 2011