Beard v. Commissioner
United States Tax Court
Husband and wife were divorced pursuant to a decree which provided, among other things, for a nearly equal split of the property which had been accumulated by the couple during their marriage. In effecting a physical division of the assets, the husband was ordered to pay the wife an immediate lump-sum payment of $ 40,250 and an additional $ 310,000 payable in installments over a 121-month period.
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Husband and wife were divorced pursuant to a decree which provided, among other things, for a nearly equal split of the property which had been accumulated by the couple during their marriage. In effecting a physical division of the assets, the husband was ordered to pay the wife an immediate lump-sum payment of $ 40,250 and an additional $ 310,000 payable in installments over a 121-month period. The installment payments were secured, interest-bearing, and were not subject to any contingencies. A separate award of contingent alimony was provided elsewhere in the decree. Held: Taking into…
1Opinion of the Court
OPINION
Dawson, Judge:
Respondent determined the following deficiencies in petitioners’ Federal income taxes for the calendar year 1975:
Petitioner(s) Docket No. Deficiency
Shirley Jean Beard . 14671-79 $20,841.57
Richard C. Patterson and Phyllis Patterson1 . 14687-79 23,216.65
The only issue for decision is whether certain amounts paid by Richard C. Patterson to Shirley Jean Beard are includable in her income under section 712 and deductible from his income under section 215. Respondent has taken inconsistent positions in these consolidated cases. However, on brief, respondent maintains that the…
2Cases cited34 opinions
- Elizabeth H. Bardwell v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1963
- Bardwell v. CommissionerUnited States Tax Court · 1962
- Thompson v. CommissionerUnited States Tax Court · 1968
- Johnson v. JohnsonMichigan Supreme Court · 1956
- Wright v. CommissionerUnited States Tax Court · 1974
29 more not listed; retrieve them via the Exa API.
3Cited by60 opinions
- Jacklin v. CommissionerUnited States Tax Court · 1982
- Kritt v. Kritt (In Re Kritt)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1995
- Hawkins v. CommissionerUnited States Tax Court · 1994
- Joan S. Schatten v. United StatesCourt of Appeals for the Sixth Circuit · 1984
- Benedict v. CommissionerUnited States Tax Court · 1984
55 more not listed; retrieve them via the Exa API.