Lillian H. Bosch v. United States

TUTTLE, Circuit Judge:

This appeal challenges the correctness of the trial court’s determination of the taxpayer’s basis in land which she acquired pursuant to a Florida divorce decree and which she sold during the tax years in question. The basis approved by the trial court was the fair market value of the land on the date of the transfer to her some five years' after the taxpayer obtained the divorce from her husband. The United States contends that the basis should be the actual cost of the land to the husband when it was acquired during the marriage.

The facts are not in dispute. During her…