Harrah v. Commissioner
United States Tax Court
Petitioner and her former husband entered into a settlement agreement incident to their divorce which purported to reflect a division of community property. The settlement agreement was ratified and approved by the divorce court and incorporated in its divorce decree.
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Petitioner and her former husband entered into a settlement agreement incident to their divorce which purported to reflect a division of community property. The settlement agreement was ratified and approved by the divorce court and incorporated in its divorce decree. Held: The transaction emanating from the settlement agreement wherein petitioner received certain stocks and other assets as her separate property was a division of community property and not an exchange of the husband's separate property for petitioner's marital or other rights. Consequently, petitioner's basis in the shares of…
1Opinion of the Court
Drennen, Judge:
In these consolidated cases respondent determined deficiencies in petitioner’s income tax as follows:
Docket No. 4325-75 Docket No. 9790-76
1969.$39,063 1974 .!.$53,506
1970. 92,677
1971. 82,120
The notices of deficiency raise several issues which have been settled by the parties. The issue to be resolved in this opinion was severed from those remaining for trial or settlement. That issue is whether certain property received by petitioner under a document entitled “Agreement” dated March 3, 1969, between William F. Harrah and petitioner, Scherry Harrah, which was “ratified,…
2Cases cited19 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Commissioner v. Estate of BoschSupreme Court of the United States · 1967
- United States v. DavisSupreme Court of the United States · 1962
- Pereira v. PereiraCalifornia Supreme Court · 1909
- Schulz v. CommissionerCourt of Appeals for the Ninth Circuit · 1961
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3Cited by6 opinions
- Estate of Hubert v. CommissionerUnited States Tax Court · 1993
- Davis v. CommissionerUnited States Tax Court · 1987
- Davis v. CommissionerUnited States Tax Court · 1987
- Estate of Hubert v. CommissionerUnited States Tax Court · 1993
- Harrah v. CommissionerUnited States Tax Court · 1978
1 more not listed; retrieve them via the Exa API.