Hoi Thi Huynh - Page 2




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                                  FINDINGS OF FACT                                    
               Until October 2003, petitioner was employed as a math                  
          teacher with the City of Chicago.  While employed as a teacher,             
          petitioner acquired an annuity account with AXA Equitable, a                
          qualified retirement plan.  In 2004, petitioner received                    
          distributions from AXA Equitable of $5,478 and $8,961.                      
          Petitioner reported, on her 2004 tax return, the distributions as           
          income from pensions and annuities.                                         
               On July 31, 2006, respondent issued petitioner a notice of             
          deficiency relating to 2004 and determined that petitioner was              
          liable for a 10-percent additional tax with respect to the                  
          distributions.                                                              
               Petitioner filed her petition with the Court on November 2,            
          2006, while residing in Chicago, Illinois.                                  
                                       OPINION                                        
               A 10-percent additional tax is imposed upon distributions              
          from a qualified retirement plan, unless one of the exceptions              
          enumerated in section 72(t)(2) is satisfied.  Sec. 71(t)(1) and             
          (2); see also Dwyer v. Commissioner, 106 T.C. 337 (1996).                   
          Petitioner failed to meet any of those exceptions.  Accordingly,            
          we sustain respondent’s determination.                                      












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