Robert Ancira, petitioner v. commissioner of Internal Revenue, respondent

Docket No. 425-01.

Filed September 24, 2002.

P had a self-directed IRA account of which C was the custodian. P requested that C purchase common stock in X for the IRA. Although the investment in X stock was not prohibited, C, as a matter of policy, refused to purchase the stock because X was not publicly traded. P arranged for C to issue a check drawn on the IRA account made payable to X. C sent the check to P, who forwarded it to X. X issued the stock in the name of P's IRA. P received X's stock and delivered the stock to C. R determined that there was a distribution from the IRA to P. Held, P was a conduit for C, and there was no distribution from the IRA to P. Lemishow v. Commissioner, 110 T.C. 110 (1998), distinguished.

David Bruce Spizer, for petitioner. Emile L. Hebert III and Louis John Zeller, Jr., for respondent.

OPINION

DAWSON Judge: This case was assigned to Special Trial Judge Carleton D. Powell pursuant to section 7443A(b)(3) and Rules 180, 181, and 182.1 The Court agrees with and adopts the opinion of the Special Trial Judge, which is set forth below.