Laughlin's Estate v. Commissioner of Internal Rev.

ORR, Circuit Judge.

This is a petition for review of a decision of the Tax Court determining a deficiency in petitioner’s income tax in the amount of $7,747.89 for the year 1942. The facts have been stipulated and may be summarized as follows:

On April 1, 1924, Homer Laughlin and his then wife, Ada Laughlin, entered into a property settlement agreement which was later incorporated into a final decree of divorce. The agreement provided that Homer Laughlin, or his estate, should Ada Laughlin survive him, would pay to said Ada Laughlin for her natural life the sum of $800 a month for support and…