McCormick v. Commissioner
United States Tax Court
P and his former wife, G, entered into an agreement with respect to their rights and obligations incident to their divorce. Such agreement required P to make specified periodic payments to G over a period of 16 years. Such payments were not related to the income of P or G and were to continue without regard to the remarriage or death of G. P's obligation to make such payments was secured by stock owned by him.
Read the full summary
P and his former wife, G, entered into an agreement with respect to their rights and obligations incident to their divorce. Such agreement required P to make specified periodic payments to G over a period of 16 years. Such payments were not related to the income of P or G and were to continue without regard to the remarriage or death of G. P's obligation to make such payments was secured by stock owned by him. The agreement stated that the parties intended that such payments be considered support payments and be taxable to G and deductible by P for Federal income tax purposes. Held: (1) Under…
1Opinion of the Court
DONALD R. McCORMICK, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
McCormick v. Commissioner
Docket Nos. 1869-84; 1870-84.
United States Tax Court
T.C. Memo 1987-418; 1987 Tax Ct. Memo LEXIS 415; 54 T.C.M. (CCH) 242; T.C.M. (RIA) 87418;
August 24, 1987.
P and his former wife, G, entered into an agreement with respect to their rights and obligations incident to their divorce. Such agreement required P to make specified periodic payments to G over a period of 16 years. Such payments were not related to the income of P or G and were to continue without regard to the remarriage or death of…
2Cases cited17 opinions
- Elizabeth H. Bardwell v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1963
- Bardwell v. CommissionerUnited States Tax Court · 1962
- Thompson v. CommissionerUnited States Tax Court · 1968
- Wright v. CommissionerUnited States Tax Court · 1974
- Hesse v. CommissionerUnited States Tax Court · 1973
12 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Gibbs v. CommissionerUnited States Tax Court · 1997
- Gatwood v. CommissionerUnited States Tax Court · 1989
- Williams v. CommissionerUnited States Tax Court · 1993