Carol M. Read v. Commissioner

114 T.C. No. 2

UNITED STATES TAX COURT CAROL M. READ, ET AL.,1 Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket Nos. 19001-97, 19322-97, Filed February 4, 2000. 19328-97. W and H, who were married, owned all of the vot- ing, and virtually all of the nonvoting, stock of X corporation (X). They divorced, and the final judgment dissolving their marriage (divorce judgment) ordered (1) that W sell and convey to H, or at H's election to X or X's ESOP plan, all of her X stock, (2) that H, or at H's election X or X's ESOP plan, pay a stated amount of cash to W simultaneously with the…