-16-
Thus, petitioner’s transmittal letter of October 4, 2000,
again raises the issue discussed in his letter dated May 27,
2000, quoted above. That issue involves his contention that the
gross distribution reported on the Form 1099-R issued for 1998,
consisting of the stock of J.D. Edwards & Co., is overstated, as
shown by the fact that the amount reported on the Form 1099-R
greatly exceeds the proceeds realized from the sale of the stock.
The transmittal letter expresses petitioner’s concern that the
amount of the gross distribution reported on the Form 1099-R
would cause additional income of $42,695.14 for 1998.
Petitioners filed their 1999 Federal income tax return on or
about November 21, 2001. That return does not report any of the
distributions from petitioner’s IRA at Norwest during 1999 in the
aggregate amount of $331,500. At the same time, the return
reports none of the dividend income in the aggregate amount of
$6,093.21 realized by petitioner’s IRA during the year.
Petitioners also filed their 2000 Federal income tax return
on or about November 21, 2001. That return does not report the
distributions of $10,000 received from petitioner’s IRA during
2000. Furthermore, that return does not report the dividends of
$141.27 realized on the moneys invested in petitioner’s IRA
during 2000.
In the later part of 1999, petitioner consulted doctors at
the cardiopulmonary department of the American Hospital in Dubai.
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