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Any and all sums, whether matured or unmatured, accrued or
unaccrued, vested or otherwise, together with all increases
thereof, the proceeds therefrom, and any other rights
related to any profit-sharing plan, retirement plan, pension
plan, employee stock option plan, employee savings plan,
accrued unpaid bonuses, or other benefit program existing by
reason of Petitioner’s past or present employment.
The divorce decree contained a similar provision in favor of Ms.
Simpson. The decree further awarded Ms. Simpson a money judgment
of $17,900 to effect “a just and right division of the community
estate.” The divorce decree further provided, however, that the
money judgment “is part of the division of the community estate
between the parties and does not constitute, nor shall it be
interpreted to be, any form of spousal support, alimony or child
support.” The payment of $17,900 by petitioner to his former
spouse in satisfaction of the money judgment was acknowledged in
the decree. To pay the money judgment to Ms. Simpson, petitioner
used part of the proceeds he had received from the ESOP
distribution.
On his 1997 Federal income tax return, petitioner claimed
head-of-household filing status, reported $23,818 wage income,
and claimed the standard deduction. On line 16a, Total pensions
and annuities, petitioner reported $42,806 and reported the
entire amount as taxable on line 16b, Taxable amount. On line
30a, Alimony paid, petitioner claimed an adjustment to income of
$17,900 for alimony paid. No other income or adjustments were
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Last modified: May 25, 2011