Department of Taxation v. Siegman

The sole issue to be determined on this appeal is: Does a transfer by a husband to a wife of full title in two appreciated parcels of real estate held in joint tenancy during the marriage, such transfer being made pursuant to a court-imposed divorce judgment making final division of the marriage estate under the terms of sec. 247.26, Stats., create income taxable to the husband pursuant to the provisions of sec. 71.02 (1) (g), Stats, f

The department’s rationale for the additional assessment of tax against Siegman is basically this:

Sec. 71.03 (1) (g), Stats., defines as a taxable receipt,

“All…