Haynes v. Commissioner
United States Board of Tax Appeals
Petitioner and his wife held a note and a mortgage securing the payment thereof as joint tenants. Held that only one-half the interest paid on the note is income to the petitioner.
1Opinion of the Court
*466OPINION.
Akttndell:
The petitioner admits that $1,400, or one-half of the interest paid on the note in 1922, represents income to him, but contends that the balance was paid to his wife and belonged to her and that he is not subject to tax thereon. It is his contention that he and his wife owned the note and mortgage jointly. The respondent denies the joint ownership and has computed the deficiency on the theory that the petitioner made a gift of the interest to his wife.
Although the common law doctrine with reference to joint tenancies in personal property has never been adopted by statute in…
2Cases cited3 opinions
- Case v. OwenIndiana Supreme Court · 1894
- Lober v. DorganMichigan Supreme Court · 1921
- Kissam v. McElligottDistrict Court, S.D. New York · 1920
3Cited by3 opinions
- Haynes v. CommissionerUnited States Board of Tax Appeals · 1927
- KINCHELOE v. COMMISSIONERUnited States Tax Court · 1980
- Kupersmit v. Comm'rUnited States Tax Court · 2016