Deyoe v. Commissioner
United States Tax Court
Under a property settlement agreement in the course of a marital dissolution, petitioner sold ranch property to her husband at a substantial gain. Held, the sale occurred on May 21, 1969, before the divorce decree had been entered. Held, further, at the time of the sale the parties were "husband and wife" so that under sec. 1239, the pending dissolution notwithstanding, petitioner's gain attributable to depreciable property was ordinary income.
1Opinion of the Court
Elizabeth L. Deyoe, Petitioner v. Commissioner of Internal Revenue, Respondent
Deyoe v. Commissioner
Docket No. 2084-73
United States Tax Court
66 T.C. 904; 1976 U.S. Tax Ct. LEXIS 53;
August 30, 1976, Filed
Decision will be entered under Rule 155.
Under a property settlement agreement in the course of a marital dissolution, petitioner sold ranch property to her husband at a substantial gain. Held, the sale occurred on May 21, 1969, before the divorce decree had been entered. Held, further, at the time of the sale the parties were "husband and wife" so that under sec. 1239, the pending dissolution…
2Cases cited34 opinions
- Merrill v. CommissionerUnited States Tax Court · 1963
- Albert Gersten, Myron P. Beck and Ann H. Beck, Milton Gersten and Mary Gersten v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1959
- Eccles v. CommissionerUnited States Tax Court · 1953
- Woods v. Security-First National BankCalifornia Supreme Court · 1956
- Commissioner of Internal Revenue v. SegallCourt of Appeals for the Sixth Circuit · 1940
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