Sherwood v. Commissioner
United States Tax Court
Petitioners entered into an agreement when they obtained a divorce decree, which was incorporated into the decree. The agreement provided for petitioner-husband to pay $625 per month for 208 months to petitioner-wife as a "lump sum settlement in lieu of alimony." In the event of her remarriage, however, the monthly installments for the rest of the term would be reduced to $225 per month. Petitioner-wife later remarried and then received the reduced payments.
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Petitioners entered into an agreement when they obtained a divorce decree, which was incorporated into the decree. The agreement provided for petitioner-husband to pay $625 per month for 208 months to petitioner-wife as a "lump sum settlement in lieu of alimony." In the event of her remarriage, however, the monthly installments for the rest of the term would be reduced to $225 per month. Petitioner-wife later remarried and then received the reduced payments. The amount and number of payments coincided exactly with the mortgage outstanding on the marital residence, which petitioner-wife also…
1Opinion of the Court
QUINTEN L. SHERWOOD and PATRICIA L. SHERWOOD, ET AL., 1 Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Sherwood v. Commissioner
Docket Nos. 4209-76, 4256-76, 5872-77, 9151-77.
United States Tax Court
T.C. Memo 1979-149; 1979 Tax Ct. Memo LEXIS 380; 38 T.C.M. (CCH) 660; T.C.M. (RIA) 79149;
April 16, 1979, Filed
Petitioners entered into an agreement when they obtained a divorce decree, which was incorporated into the decree. The agreement provided for petitioner-husband to pay $625 per month for 208 months to petitioner-wife as a "lump sum settlement in lieu of alimony." In the event of…
2Cases cited28 opinions
- United States v. International Building Co.Supreme Court of the United States · 1953
- Walters v. WaltersIllinois Supreme Court · 1951
- Wright v. CommissionerUnited States Tax Court · 1974
- Adler v. AdlerIllinois Supreme Court · 1940
- Hogg v. CommissionerUnited States Tax Court · 1949
23 more not listed; retrieve them via the Exa API.