James A. Petrie IV - Page 12

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          therefor.  Blackburn v. Commissioner, T.C. Memo. 1979-266, affd.            
          681 F.2d 461 (6th Cir. 1982); Finney v. Commissioner, T.C. Memo.            
          1976-329.  The reason for treating interest and taxes differently           
          from other types of expenses and losses is that even though a co-           
          owner may not be personally liable for the entire amount of the             
          interest and taxes, payment may be necessary to preserve that co-           
          owner's rights in the entire property.  Powell v. Commissioner,             
          T.C. Memo. 1967-32.                                                         
               For the first 3 months of 1991, petitioner was entitled to             
          receive one-half of the rental income from the Arizona rental               
          property as a co-owner.  Pursuant to the Uniform Dissolution of             
          Marriage Act, Colo. Rev. Stat. sec. 14-10-114 (1987), the                   
          Temporary Orders awarded Ms. Petrie the $600 monthly rental                 
          income from the Arizona property subsequent to March 21, 1991.              
          Under Colorado law, the right to income from real property is an            
          incident of ownership and the award thereof is not an award of              
          alimony.  McDonald v. McDonald, 150 Colo. 492, 374 P.2d 690                 
          (1962).  The $600 monthly rental income awarded to Ms. Petrie               
          also was not child support because the Temporary Orders                     
          specifically provided that petitioner was to pay $960 per month             
          as child support.                                                           
               Petitioner, therefore, must include in his 1991 income, one-           
          half of the Arizona rental income for the first 3 months of 1991            
          ($900).  Parsons v. Commissioner, supra; Commercial Factors v.              
          Clarke & Waggener, supra.  He is not required to include in his             

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