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Respondent determined a deficiency in petitioners' Federal
income tax in the amount of $2,960 for the taxable year 1991.
The only issue in dispute is whether petitioners are entitled to
claimed dependency exemptions.2
Some of the facts have been stipulated and are so found. At
the time of filing the petition herein, petitioners resided at
Columbia, Maryland.
Petitioner Thomas B. McCarthy (hereinafter petitioner) was
married to Rosalie McCarthy on July 18, 1980. There are three
children of that marriage, born in 1981, 1983, and 1987. In
March 1989, petitioner and Rosalie McCarthy entered into a
voluntary separation and property settlement agreement. The
agreement provided for joint legal custody of the children. The
agreement also provided that the children would reside primarily
with Rosalie McCarthy with weekend, some week night, and summer
visitations with petitioner. The agreement also provided as
follows:
Wife agrees that for each calendar year in which
the Husband shall have made all child support payments
which he is obligated to make, she shall execute a
written declaration on a form to be provided by the
Internal Revenue Service or any applicable state taxing
authority conforming to the substance of such form
stating that she will not claim the children as
dependents for that calendar year. Wife shall give
such executed declaration to Husband upon his request
on or after January 1st each year for the calendar year
2 Petitioners conceded the adjustment in the notice of
deficiency disallowing $4,120 of the $14,805 mortgage interest
deduction claimed on the 1991 return.
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