Wiles v. Commissioner
United States Tax Court
Petitioner and his wife, as Kansas domiciliaries, negotiated a property settlement in anticipation of their divorce providing, among other things, that petitioner would deliver to her sufficient shares of publicly traded stocks held by him which when added to other property transferred would equal in value $ 550,000. For this purpose they stipulated values per share for each stock.
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Petitioner and his wife, as Kansas domiciliaries, negotiated a property settlement in anticipation of their divorce providing, among other things, that petitioner would deliver to her sufficient shares of publicly traded stocks held by him which when added to other property transferred would equal in value $ 550,000. For this purpose they stipulated values per share for each stock. Kansas law requires upon divorce an equitable division of property of the marriage, regardless of legal title, either by decree or by private agreement subject to judicial supervision. Sec. 60-1610(b) and (d), Kan.…
1Opinion of the Court
OPINION
Tietjens, Judge:
The Commissioner determined deficiencies in the income tax of Richard E. Wiles and his wife Karen B. Wiles as follows:
*ear Deficiency 1966 -$120,536.95 1967 - 936.00 1968 - 3,302.68
Concessions were made by both parties and a Rule 50 computation will be necessary. We are asked to determine whether the transfer of appreciated stocks by petitioner Richard E. Wiles to his former wife was a taxable event, and if it was we are asked to determine what were the values of those stocks.
All of the facts are stipulated and are so found.
Petitioners Richard E. Wiles, Jr., and Karen…
2Cases cited21 opinions
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- United States v. DavisSupreme Court of the United States · 1962
- Collins v. Oklahoma Tax CommissionSupreme Court of Oklahoma · 1968
- George F. Collins, Jr. v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1969
- Meyer v. CommissionerUnited States Tax Court · 1966
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3Cited by9 opinions
- Amerada Hess Corp. v. CommissionerCourt of Appeals for the Third Circuit · 1975
- Doggett v. CommissionerUnited States Tax Court · 1976
- Richard E. Wiles, Jr., and Karen B. Wiles v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1974
- Cook v. CommissionerUnited States Tax Court · 1983
- Amerada Hess Corporation, Successor by Merger to Hess Oil & Chemical Corporation (J. D. Callendar Financial Vice-Pres.) v. Commissioner of Internal Revenue. Amerada Hess Corporation, Successor by Merger to Hess Oil & Chemical Corporation (Harold N. Bast, Vice-Pres.) v. Commissioner of Internal Revenue. White Farm Equipment Company, a Delaware Corporation (Successor to Oliver Corporation, a Delaware Corp.) v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1975
4 more not listed; retrieve them via the Exa API.