Third-Party Transaction Not Available for Nonrecognition Treatment

Business Valuation Update BVLaw
Legal and Court Case Update
March 19, 2001

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0811 Timber Tracts
111421 Nursery and Tree Production
federal taxation
Conrad George Olsen v. CIR
T.C. Summary Opinion 2001-32
US
Federal Court
United States Tax Court
Goldberg

Summary

The Tax Court concluded that the payment of an equitable distribution award by the purchaser of property awarded to the taxpayer in a divorce did not qualify for IRC Sec. 1041 nonrecognition treatment.

See Also

Conrad George Olsen v. CIR

Full Text of Court Cases
March 19, 2001

The Tax Court concluded that the payment of an equitable distribution award by the purchaser of property awarded to the taxpayer in a divorce did not qualify for IRC Sec. 1041 nonrecognition treatment because the transaction did not meet the requirements ...