Estate of Nutt v. Comm'r
United States Tax Court
Held: Funds which were community property of a husband and wife living in Arizona retained their character as community property when placed in a joint bank account of the husband and wife where it was the intent of the parties that the funds remain community property and the funds were treated by them as community property.
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Held: Funds which were community property of a husband and wife living in Arizona retained their character as community property when placed in a joint bank account of the husband and wife where it was the intent of the parties that the funds remain community property and the funds were treated by them as community property. Stock in an Arizona corporation one-half of which was registered in the name of the wife and one-half in the name of the husband purchased with funds from this joint bank account, which stock was intended to be and was treated as community property by the husband and…
1Opinion of the Court
opinion
As we understand the order of the Ninth Circuit remanding this case to us, we were to receive such further evidence as either party desired to present with respect to the nature of petitioners’ account in the Eloy branch of the First National Bant of Arizona, Phoenix, and on the basis of this evidence and the other evidence of record in this case determine whether the funds in this bank account were community property of petitioners under Arizona law. Since we are directed after receiving evidence as to the nature of the account to enter “new findings, opinion, and decision,” we…
2Cases cited16 opinions
- In Re the Estate of PoriandaNew York Court of Appeals · 1931
- Baldwin v. BaldwinArizona Supreme Court · 1937
- O'Brien v. BieggerSupreme Court of Iowa · 1943
- Greenwood v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1943
- Nutt v. CommissionerUnited States Tax Court · 1962
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3Cited by1 opinion
- Estate of Nutt v. Comm'rUnited States Tax Court · 1969