Belot v. Comm'r
United States Tax Court
Petitioner and Ms. Belot formed and jointly owned three businesses during their marriage. They were divorced in 2007. Pursuant to the settlement agreement entered into at the time of petitioner's divorce, they agreed to own and operate the businesses as equal partners. When it became clear that they were unable to operate the businesses together to their mutual satisfaction, Ms. Belot filed a lawsuit against petitioner to gain full control over the businesses.
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Petitioner and Ms. Belot formed and jointly owned three businesses during their marriage. They were divorced in 2007. Pursuant to the settlement agreement entered into at the time of petitioner's divorce, they agreed to own and operate the businesses as equal partners. When it became clear that they were unable to operate the businesses together to their mutual satisfaction, Ms. Belot filed a lawsuit against petitioner to gain full control over the businesses. In 2008, 16 months after the initial settlement and divorce, they entered into a settlement agreement under which petitioner…
1Opinion of the Court
JOSEPH R. BELOT, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Belot v. Comm'r
Docket No. 13232-13.
United States Tax Court
T.C. Memo 2016-113; 2016 Tax Ct. Memo LEXIS 112; 111 T.C.M. (CCH) 1547;
June 13, 2016, Filed
Decision will be entered for petitioner.
Petitioner and Ms. Belot formed and jointly owned three businesses during their marriage. They were divorced in 2007. Pursuant to the settlement agreement entered into at the time of petitioner's divorce, they agreed to own and operate the businesses as equal partners. When it became clear that they were unable to operate the…
2Cases cited6 opinions
- United States v. DavisSupreme Court of the United States · 1962
- Borchers v. CommissionerUnited States Tax Court · 1990
- Richard J. Borchers Jane E. Borchers v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1991
- Blatt v. CommissionerUnited States Tax Court · 1994
- Barnum v. CommissionerUnited States Tax Court · 1952
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