Hayes v. Commissioner
United States Tax Court
On April 2, 1986, H and W entered into a separation agreement which provided that H would purchase W's stock in J, a corporation of which they were the sole stockholders. On June 4, 1986, an Ohio court entered a judgment of divorce with respect to H and W which incorporated their separation agreement, including the provision obligating H to purchase W's stock in J. On the same day, W and J executed an agreement in which J agreed to redeem W's stock.
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On April 2, 1986, H and W entered into a separation agreement which provided that H would purchase W's stock in J, a corporation of which they were the sole stockholders. On June 4, 1986, an Ohio court entered a judgment of divorce with respect to H and W which incorporated their separation agreement, including the provision obligating H to purchase W's stock in J. On the same day, W and J executed an agreement in which J agreed to redeem W's stock. J made one payment in redemption of W's stock on December 31, 1986, and a final payment on March 31, 1987. On March 3, 1987, the Ohio court which…
1Opinion of the Court
MARY RUTH HAYES, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent; JIMMY L. HAYES, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Hayes v. Commissioner
Docket Nos. 26913-91, 30646-91
United States Tax Court
101 T.C. 593; 1993 U.S. Tax Ct. LEXIS 91; 101 T.C. No. 40;
December 29, 1993, Filed
On April 2, 1986, H and W entered into a separation agreement which provided that H would purchase W's stock in J, a corporation of which they were the sole stockholders. On June 4, 1986, an Ohio court entered a judgment of divorce with respect to H and W which incorporated their separation…
2Cases cited35 opinions
- Commissioner v. Estate of BoschSupreme Court of the United States · 1967
- Morgan v. CommissionerSupreme Court of the United States · 1940
- Wall v. United StatesCourt of Appeals for the Fourth Circuit · 1947
- William J. Sullivan and Georgia K. Sullivan v. United StatesCourt of Appeals for the Eighth Circuit · 1966
- Webb v. Western Reserve Bond & Share Co.Ohio Supreme Court · 1926
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