Lawrence Robert Gamer - Page 4

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               instrument, each releasing the other of and from all                   
               claims and demands for anything whatsoever in the                      
               future, including, but not limited to, alimony and                     
               separate maintenance, regardless of the future income                  
               of the husband and wife.                                               
                         *    *    *    *    *    *    *                              
                    14.  Parties Bound.  This Settlement Agreement                    
               shall be binding upon the heirs, legatees, devisees,                   
               administrators, and personal representatives of the                    
               parties hereto and, in the event of the death of either                
               of the parties of this Settlement Agreement while said                 
               Settlement Agreement is in force and effect, the estate                
               of said deceased party shall be obligated and                          
               responsible for the performance of the obligations and                 
               conditions of this Settlement Agreement.                               
                         *    *    *    *    *    *    *                              
                    18.  Marital Residence.  The parties jointly own                  
               as tenants by the entireties a certain single family                   
               residence * * *.  Within ten days of the execution of                  
               this Agreement, the husband shall pay to the wife in                   
               current cash funds the sum of $37,000 representing the                 
               wife’s interest in this residence.  Contemporaneous                    
               with the transfer of these funds, the wife shall                       
               execute a quit-claim deed conveying to the husband all                 
               of her right, title and interest in this property.                     

               The provisions of the settlement agreement were incorporated           
          into a Final Judgment of Dissolution of Marriage.                           
               On March 7, 2000, petitioner issued a check payable to Ms.             
          Gamer in the amount of $37,000.  Petitioner wrote “Settlement” on           
          the memo section of the check.                                              
               Petitioner filed Form 1040, U.S. Individual Income Tax                 
          Return, for the taxable year 2000.  On his 2000 return,                     
          petitioner claimed a deduction in the amount of $37,000 for                 
          “alimony paid” to Ms. Gamer.                                                





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