- 6 -
into his Fidelity IRA. Fidelity Institutional issued petitioner
a Form 1099-R with respect to Plan 15106 for 2000 (the Plan 15106
Form 1099-R). The parties stipulated that the Plan 15106 Form
1099-R accurately reflected the offsetting distribution made in
satisfaction of the loan and the direct rollover into the
Fidelity IRA, indicated that petitioner made no employee
contributions, and reported a taxable amount of $30,623.
C. Petitioner’s Individual Retirement Accounts (IRAs)
As described above, petitioner made direct rollovers from
Plan 15105 and Plan 15106 to his Fidelity IRA totaling $750,320
in 2000. Petitioner received the following distributions from
his Fidelity IRA:
Date Amount
Nov. 2, 2000 $100,000
Nov. 9, 2000 10,000
Nov. 9, 2000 20,000
Nov. 16, 2000 30,000
Total 160,000
On November 9 and 16, 2000, petitioner made direct rollovers
of $500,000 and $62,930, respectively, from his Fidelity IRA into
another IRA administered by US Bancorp Piper Jaffray (US Bancorp
IRA). On November 10 and 17, 2000, petitioner received
distributions of $500,000 and $62,930, respectively, from his US
Bancorp IRA.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011