Deyoe v. Commissioner
United States Tax Court
Under a property settlement agreement in the course of a marital dissolution, petitioner sold ranch property to her husband at a substantial gain. Held, the sale occurred on May 21, 1969, before the divorce decree had been entered. Held, further, at the time of the sale the parties were "husband and wife" so that under sec. 1239, the pending dissolution notwithstanding, petitioner's gain attributable to depreciable property was ordinary income.
1Opinion of the Court
Hall, Judge:
Respondent determined the following deficiencies in petitioner’s Federal income tax:
Year Deficiency
1969_ $21,222.25
1970_ 26,118.93
Because of concessions made by the parties, the sole issue before the Court is whether section 1239 of the Internal Revenue Code of 19541 applies to petitioner’s sale of her community interest in a ranch to George W. Deyoe, her former husband. This in turn depends on the date the sale occurred, whether petitioner and George W. Deyoe were husband and wife within the meaning of section 1239 on that date, and whether section 1239 was intended to apply to a…
2Cases cited33 opinions
- Merrill v. CommissionerUnited States Tax Court · 1963
- Albert Gersten, Myron P. Beck and Ann H. Beck, Milton Gersten and Mary Gersten v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1959
- Eccles v. CommissionerUnited States Tax Court · 1953
- Woods v. Security-First National BankCalifornia Supreme Court · 1956
- Commissioner of Internal Revenue v. SegallCourt of Appeals for the Sixth Circuit · 1940
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3Cited by47 opinions
- Baird v. CommissionerUnited States Tax Court · 1977
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- Dunn v. CommissionerUnited States Tax Court · 1978
- Berger v. CommissionerUnited States Tax Court · 1996
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