Shane v. Commissioner
United States Tax Court
Petitioner, Ramon, and his former wife, Jean, entered into an agreement which was adopted and approved by a divorce decree entered in 1968 under the terms of which petitioner was to pay Jean a "debt" of $76,000 in installments over a period of 6 years and $1,500 per month thereafter for two periods of 5 years each.
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Petitioner, Ramon, and his former wife, Jean, entered into an agreement which was adopted and approved by a divorce decree entered in 1968 under the terms of which petitioner was to pay Jean a "debt" of $76,000 in installments over a period of 6 years and $1,500 per month thereafter for two periods of 5 years each. Petitioner paid Jean $7,000 in 1972 and $12,000 in 1973. Held, the payments in issue were not periodic payments in the nature of support or alimony and were not taxable to Jean under sec. 71, I.R.C. 1954, and hence were not deductible by petitioners under sec. 215.
1Opinion of the Court
RAMON A. SHANE and MARY A. SHANE, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Shane v. Commissioner
Docket No. 3560-78.
United States Tax Court
T.C. Memo 1980-409; 1980 Tax Ct. Memo LEXIS 166; 40 T.C.M. (CCH) 1308; T.C.M. (RIA) 80409;
September 22, 1980, Filed
Petitioner, Ramon, and his former wife, Jean, entered into an agreement which was adopted and approved by a divorce decree entered in 1968 under the terms of which petitioner was to pay Jean a "debt" of $76,000 in installments over a period of 6 years and $1,500 per month thereafter for two periods of 5 years each. Petitioner…
2Cases cited20 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- North v. NorthSupreme Court of Missouri · 1936
- Wright v. CommissionerUnited States Tax Court · 1974
- Gordon v. CommissionerUnited States Tax Court · 1978
- Joslin v. CommissionerUnited States Tax Court · 1969
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