Lee v. Commissioner
United States Tax Court
Income -- Alimony Payments -- Periodic v. Installment -- Principal Sum -- §§ 22 (k), 23 (u). -- Payments consisting of a percentage of the husband's annual net income for five years were "periodic" and not taxable to the husband. There is in such case no principal sum.
1Opinion of the Court
OPINION.
MuRdock, Judge:
Section 23 (u) of the Internal Revenue Code, enacted after the date of the present agreement, allows a husband a deduction of amounts includible under section 22 (k) in the gross income of his wife, payment of which was made within the husband’s taxable year. Section 22 (k) provides that there shall be included in the gross income of a wife who is divorced from her husband under a decree of divorce “periodic payments (whether or not made at regular intervals) received subsequent to such decree in discharge of * * * a legal obligation which, because of the marital or…
2Cited by15 opinions
- Gale v. CommissionerUnited States Tax Court · 1949
- Herbert v. RiddellDistrict Court, S.D. California · 1952
- Estate of Orsatti v. CommissionerUnited States Tax Court · 1949
- Fidler v. CommissionerUnited States Tax Court · 1953
- Orsatti v. CommissionerUnited States Tax Court · 1949
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