Davis v. Commissioner
United States Tax Court
In 1979, the ill-fated and tempestuous marriage of Priscilla and Cullen Davis was dissolved. The divorce decree specified the manner in which the community property was divided. Among other community assets, Priscilla was awarded a money judgment equal to one-half of the net value of the community estate. Held: The money judgment effectuated a distribution to Priscilla of a right of reimbursement.
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In 1979, the ill-fated and tempestuous marriage of Priscilla and Cullen Davis was dissolved. The divorce decree specified the manner in which the community property was divided. Among other community assets, Priscilla was awarded a money judgment equal to one-half of the net value of the community estate. Held: The money judgment effectuated a distribution to Priscilla of a right of reimbursement. Because the right of reimbursement was a community asset, its award to Priscilla is not a taxable event.
1Opinion of the Court
Priscilla L. Davis, Petitioner v. Commissioner of Internal Revenue, Respondent; Thomas C. Davis and Karen J. Davis, Petitioners v. Commissioner of Internal Revenue, Respondent
Davis v. Commissioner
Docket Nos. 31386-84, 36032-85
United States Tax Court
88 T.C. 1460; 1987 U.S. Tax Ct. LEXIS 83; 88 T.C. No. 82;
June 11, 1987. June 11, 1987, Filed
Decision will be entered for the petitioner in docket No. 31386-84.
An appropriate order will be entered in docket No. 36032-85.
In 1979, the ill-fated and tempestuous marriage of Priscilla and Cullen Davis was dissolved. The divorce decree specified the…
2Cases cited28 opinions
- Dakan v. DakanTexas Supreme Court · 1935
- Cameron v. CameronTexas Supreme Court · 1982
- Colden v. AlexanderTexas Supreme Court · 1943
- Vallone v. ValloneTexas Supreme Court · 1982
- Belz v. Belz, Texas Court of Appeals, 5th District (Dallas)1984
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