Interest on Payments Received in Divorce Is Income

Business Valuation Update BVLaw
Legal and Court Case Update
April 29, 1997

Access the Full Article

This article is available with a subscription to any of these products:
Already a subscriber?  Login
This article is also available for purchase. (256 words)   Add to Cart >>
Need help? Contact us:
1-503-479-8200 ext 2 or sales@bvresources.com
5411 Grocery Stores
445120 Convenience Stores
federal taxation
Linda Gibbs v. CIR
T.C. Memo. 1997-196
US
Federal Court
United States Tax Court
Carluzzo

Summary

The Tax Court concluded that the interest portion of payments Gibbs received from her former husband in exchange for her interest in their convenience store business were not deductible from her income under IRC sec. 1041—transfers incident to divorce.

See Also

Linda Gibbs v. CIR

Full Text of Court Cases
April 29, 1997

The Tax Court concluded that the interest portion of payments Gibbs received from her former husband in exchange for her interest in their convenience store business were not deductible from her income under IRC sec. 1041 - transfers incident to divorce.