Grabowski v. Commissioner
United States Tax Court
Petitioner's 1956 and 1957 divorce decrees provided husband pay her $23,500, payable $100 a month, with directions to husband to secure a loan on business property awarded to him, at the expiration of existing loan on March 1, 1963, and pay the balance then due on the $23,500 obligation from the proceeds.
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Petitioner's 1956 and 1957 divorce decrees provided husband pay her $23,500, payable $100 a month, with directions to husband to secure a loan on business property awarded to him, at the expiration of existing loan on March 1, 1963, and pay the balance then due on the $23,500 obligation from the proceeds. Held, where husband agreed his obligation was to pay the $23,500 by the 1963 loan which he testified he would have no difficulty in securing, the payments in 1957 and 1958 were not periodic payments as being payments on a principal sum to be paid or that may be paid over a period ending more…
1Opinion of the Court
Alice Grabowski v. Commissioner.
Grabowski v. Commissioner
Docket Nos. 83865, 87822.
United States Tax Court
T.C. Memo 1962-43; 1962 Tax Ct. Memo LEXIS 269; 21 T.C.M. (CCH) 249; T.C.M. (RIA) 62043;
February 28, 1962
Petitioner's 1956 and 1957 divorce decrees provided husband pay her $23,500, payable $100 a month, with directions to husband to secure a loan on business property awarded to him, at the expiration of existing loan on March 1, 1963, and pay the balance then due on the $23,500 obligation from the proceeds. Held, where husband agreed his obligation was to pay the $23,500 by the 1963 loan…
2Cases cited1 opinion
- Stecker v. CommissionerUnited States Tax Court · 1959
3Cited by2 opinions
- Wallace v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1973
- George C. Wallace and Mauzella Wallace v. Commissioner of Internal Revenue, Marvin Ansel Young and Glendora May Young v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1973