Larry Wade Human - Page 7

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               obligation is one for lump sum alimony payable in                      
          See also Stone v. Stone, supra at 889.  That court noted that the           
          distinction between lump sum and periodic alimony is important              
          inasmuch as "the obligation to pay periodic alimony terminates at           
          the death of either party while the obligation to pay lump sum              
          alimony in installments over a period of time does not."  Winokur           
          v. Winokur, supra at 95 (emphasis added).                                   
               In the present case, the Judgment incorporating the jury               
          verdict required petitioner to pay two installments of $24,000              
          and $750,000.  Thus, the number of payments and the amount of               
          each payment were specified.  Moreover, no other limitations,               
          conditions, or statements of intent are present in the words of             
          the documents creating the obligation.  Cf. Dillard v. Dillard,             
          458 S.E.2d 102, 103 (Ga. 1995).  Since the payments in 1992 meet            
          the definition for lump-sum alimony set forth in Winokur v.                 
          Winokur, supra, it follows that they would have remained payable            
          to Anita's estate in the event of her death.  Id. at 95.                    
               In view of the above discussion, we hold that the lump-sum             
          payments in the amount of $971,684 made to Anita and on her                 
          behalf are not alimony within the meaning of section 71.  See               
          Stokes v. Commissioner, T.C. Memo. 1994-456.  Consequently, they            
          are not deductible to petitioner pursuant to section 215(a).                
          II.  Whether Petitioner Is Liable for the Section 6662(a)                   
          Accuracy-Related Penalty                                                    

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