Estate of James F. Hall, Jr., Deceased, Harriet Hall, Executrix, and Harriet Nixon Hall - Page 16

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          in the amount of $125,331.63 held jointly by Mr. and Mrs. Hall.             
          As a result, Mrs. Hall had over $500,000 of the distribution                
          proceeds available to her in the form of joint accounts.  No                
          evidence was presented reflecting the ultimate disposition of the           
          funds in these accounts.5                                                   
               The acquisition of joint saving or investment assets has               
          been held to constitute a significant benefit, thereby precluding           
          innocent spouse relief.  Purificato v. Commissioner, 9 F.3d 290,            
          294 (3d Cir. 1993), affg. T.C. Memo. 1992-580.  We believe the              
          facts here indicate that significant funds from the distribution            
          were available to Mrs. Hall via these joint accounts, and,                  
          therefore, she has failed to demonstrate that she did not                   
          significantly benefit from the omitted income.                              
               Furthermore, where the understatement results from a                   
          misapprehension of the tax laws by both spouses, then both                  
          spouses are perceived to be "innocent", and there is no inequity            
          in holding them both to joint liability.  Bokum v. Commissioner,            
          992 F.2d 1132, 1134-1135 (11th Cir. 1993), affg. 94 T.C. 126,               
          156-157 (1990); Hayman v. Commissioner, 992 F.2d 1256, 1262 (2d             
          Cir. 1993), affg. T.C. Memo. 1992-228; Lessinger v. Commissioner,           
          85 T.C. 824, 838 (1985), revd. on other grounds 872 F.2d 519 (2d            
          Cir. 1989); McCoy v. Commissioner, 57 T.C. 732, 734-735 (1972).             
               The record indicates that both Mr. and Mrs. Hall were aware            

          5The balance of the distribution appears to have consisted                  
          of real property.  No evidence was offered by petitioners to show           
          who held title to this real property after the distribution.                



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