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Respondent determined a $5,740 deficiency in petitioner’s
1994 Federal income tax and a $1,435 addition to tax under
section 6651(a)(1) for that year. The issues for decision are:
(1) Whether petitioner’s share of the gain realized from the sale
of property jointly owned with her former spouse must be included
in her 1994 income, and (2) whether petitioner had reasonable
cause for her failure to file a timely 1994 Federal income tax
return.
Background
Some of the facts have been stipulated and are so found.
At the time the petition was filed, petitioner resided in
Jacksonville, Florida.
Petitioner and Richard Edward Zimmerman, Jr. (petitioner’s
former spouse), were married in 1972. They separated prior to
or during 1991, and an action for divorce was filed in the
appropriate local court during that year (the divorce
proceeding). They were divorced by Final Judgment of Dissolution
of Marriage, issued on August 14, 1998, by the Circuit Court in
Jacksonville, Duval County, Florida (the divorce decree).
In 1979, petitioner and her former spouse purchased a
townhouse in Pensacola, Florida, for $64,832 (the townhouse).
Approximately $44,000 of the purchase price was financed. They
took title to the townhouse as tenants by the entireties, and,
although the record contains no specific evidence on the point,
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