Michael J. Kulzer & Jan K. Bielman-Kulzer - Page 16




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          for purposes of computing a series of substantially equal                   
          periodic payments.  In fact, considering petitioner's vague and             
          confusing testimony, we are not even certain how many retirement            
          accounts petitioner held with SBC during 2001 and 2002.  For                
          example, at trial he testified that during the year 2001 he                 
          withdrew $88,298 from his retirement accounts.  He described his            
          withdrawals as follows:                                                     
               I had several retirement accounts, including IRAs,                     
               within local, you know, credit union institutions, and                 
               I think there's probably 4 or 5 different withdrawals                  
               that between all of my retirement accounts they totaled                
               the $88,000-plus.  * * *  I would say, to be accurate,                 
               that 44,000 of the 76,000 is my 401(k).  The remaining                 
               32,000 on that line and the 12,000 above were from                     
               different accounts other than my 401(k).                               
          The above testimony suggests that the distribution of $44,000               
          came from his section 401(k) account with SBC and "the remaining            
          32,000" came from a different SBC account or accounts.  This                
          conclusion is consistent with the fact that there are two Forms             
          1099-R for SBC attached to petitioners' 2001 return.  One Form              
          1099-R reports a gross distribution of $32,000 from "SBC 1, 2,              
          3".  A second Form 1099-R reports a gross distribution of $44,180           
          from "SBC 401K".                                                            
               Furthermore, there is very little evidence in the record               
          regarding the balance of petitioner's IRA at OCTFCU or the                  
          balance of his retirement account or accounts with SBC.  The                
          record contains only one statement from SBC dated July 18, 2001,            
          which shows the "remaining market value" of the three accounts              






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