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
Hall, Judge:
Respondent determined a deficiency in petitioner’s 1968 income tax of $26,921.29.
The sole issue remaining is how much gain, if any, did petitioner recognize in 1968 as a result of transferring her community property interest in 4,615 shares of stock to her former husband pursuant to a divorce decree.
FINDINGS OF FACT
Most of the facts have been stipulated and are found accordingly.
Petitioner maintained her residence at Moraga, Calif., when she filed her petition. Petitioner filed her 1968 income tax return with the District Director in San Francisco, Calif.
On December 5, 1966,…
2Cases cited15 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
- Rouse v. CommissionerUnited States Tax Court · 1946
- Long v. COMMISSIONER OF INTERNAL REVENUECourt of Appeals for the Fifth Circuit · 1949
10 more not listed; retrieve them via the Exa API.
3Cited by24 opinions
- In Re Marriage of BergmanCalifornia Court of Appeal · 1985
- Berger v. CommissionerUnited States Tax Court · 1996
- Siewert v. CommissionerUnited States Tax Court · 1979
- Balding v. CommissionerUnited States Tax Court · 1992
- In Re Marriage of ClarkCalifornia Court of Appeal · 1978
19 more not listed; retrieve them via the Exa API.