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petitioner had designated his J.D. Edwards & Co. stock as a
"rollover contribution" to his IRA. See sec. 1.402(c)-2, Q&A-13,
Income Tax Regs.
Petitioner’s contribution of J.D. Edwards & Co. stock to his
IRA and his designation of the contribution as a rollover
contribution took place well within 60 days of receipt as
required by section 402(c)(3). This is true no matter what we
use as the starting date, that is, "the day on which the
distributee received the property distributed." See sec.
402(c)(3). In this case, the starting date of the 60-day period
could be the date on which petitioner constructively received the
stock, July 15, 1998. See generally Rev. Rul. 82-75, 1982-1 C.B.
116 and Rev. Rul. 81-158, 1981-1 C.B. 205 (holding that, for
purposes of section 402, the distributee received shares from an
employer established profit-sharing plan that qualified under
section 401(a) when the trustee of the plan delivered to the
transfer agent stock certificates previously issued in the
trustee’s name, together with written instructions to reissue the
certificates in the name of the distributee). The starting date
could also be the date on which petitioner actually received the
stock. Petitioner actually received the stock certificate
between July 30, 1998, when the transfer agent mailed it to him,
and August 4, 1998, when he hand-delivered the stock certificate
to Norwest.
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