Gillespie v. Commissioner
United States Board of Tax Appeals
1. In 1929 petitioner and his then wife agreed upon a division of their property acquired during marriage, and transferred to a corporation, with certain exceptions, all of such property in consideration of its agreement to provide an annuity for life to each. A suit was then pending by the wife for division of property and maintenance, but not divorce. The agreement provided relinquishment by the wife of right to alimony, support, and maintenance.
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1. In 1929 petitioner and his then wife agreed upon a division of their property acquired during marriage, and transferred to a corporation, with certain exceptions, all of such property in consideration of its agreement to provide an annuity for life to each. A suit was then pending by the wife for division of property and maintenance, but not divorce. The agreement provided relinquishment by the wife of right to alimony, support, and maintenance. The wife had property, the property conveyed to the corporation belonged to both, and both executed conveyances. It was conveyed absolutely to the…
1Opinion of the Court
*675OPINION.
Disney:
Two questions are here presented: (1) Was $15,000 received by petitioner in 1934 taxable to him under section 22 (b) (2) *676of the Revenue Act of 1934 as received under an annuity, or exempt from taxation because constituting only a return of corpus, petitioner contending that the statute is unconstitutional? (2) Was $20,000 received by petitioner’s former wife during 1934 taxable to him as paid her in discharge of petitioner’s marital obligations?
As to the first proposition: Section 22 (b) (2) of the Revenue Act of 19341 specifically provides that amounts received as an annuity…
2Cited by12 opinions
- Waller v. CommissionerUnited States Tax Court · 1963
- 212 Corp. v. CommissionerUnited States Tax Court · 1978
- Estate of Bell v. CommissionerUnited States Tax Court · 1973
- Gillespie v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1945
- Steinbach Kresge Co. v. SturgessDistrict Court, D. New Jersey · 1940
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