Carrieres v. Commissioner
United States Tax Court
Under a California divorce decree the husband was awarded all of petitioner-wife's community property share of stock in the family business and was required to give in exchange his share in other community property together with separate property cash to "equalize" the division of community property.
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Under a California divorce decree the husband was awarded all of petitioner-wife's community property share of stock in the family business and was required to give in exchange his share in other community property together with separate property cash to "equalize" the division of community property. Held, to the extent husband used his separate property to pay for wife's community interest in the stock, there was a taxable sale on which wife's gain must be recognized, but with respect to the portion of such stock disposed of in exchange for husband's interest in other community property,…
1Opinion of the Court
Jean C. Carrieres, Petitioner v. Commissioner of Internal Revenue, Respondent
Carrieres v. Commissioner
Docket No. 4831-72
United States Tax Court
64 T.C. 959; 1975 U.S. Tax Ct. LEXIS 77;
August 27, 1975, Filed
Decision will be entered under Rule 155.
Under a California divorce decree the husband was awarded all of petitioner-wife's community property share of stock in the family business and was required to give in exchange his share in other community property together with separate property cash to "equalize" the division of community property. Held, to the extent husband used his separate…
2Cases cited16 opinions
- United States v. DavisSupreme Court of the United States · 1962
- David R. Pulliam v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1964
- Johnson v. United StatesCourt of Appeals for the Ninth Circuit · 1943
- Carrieres v. CommissionerUnited States Tax Court · 1975
- Rouse v. CommissionerUnited States Tax Court · 1946
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