2
petitioner is liable for tax on one-half of the capital gain
realized on the sale of a house (the Arden Road house) that his
former wife owned, one-half of the sale proceeds of which were
awarded to him when he and his wife were divorced. We hold that
he is not liable for tax on any of the capital gain. Thus,
petitioner is not liable for the accuracy-related penalty under
section 6662 for substantial understatement of tax for 1994
relating to the gain on the sale of the Arden Road house.1
Section references are to the Internal Revenue Code in
effect during the years in issue. Rule references are to the Tax
Court Rules of Practice and Procedure.
Background
The parties submitted this case fully stipulated under Rule
122.
A. Petitioner
Petitioner was born in 1942, and he lived in Thornville,
Ohio, when he filed his petition. Petitioner is an attorney and
has practiced law since 1970.
B. Petitioner’s Marriage to Mary Lois Suhr
Petitioner and Mary Lois Suhr (Mrs. Suhr) were married in
1964 in Columbus, Ohio.
1 Petitioner concedes that he is liable under sec. 6662 for
1994 and 1995 relating to the settled issues.
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