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Petitioner counters that an additional exception under
section 72(t)(2)(D) should apply to the full extent of the $3,209
in health insurance premiums that petitioner’s law partnership
paid in 2001 on petitioner’s behalf. However, this limited
exception that petitioner relies on relating to health insurance
premiums applies only to early distributions from individual
retirement accounts such as the early distributions from
petitioner’s SEP-IRA, not to early distributions from annuity
accounts and carries with it many other limitations not satisfied
by the evidence herein. See sec. 72(t)(2)(D).
As indicated, petitioner has conceded that the $2,000 early
distribution from her SEP-IRA does not qualify for an exception
to the section 72(t) 10-percent additional tax.
To reflect the foregoing,
Decision will be entered
under Rule 155.
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Last modified: May 25, 2011