Claudia F. Walker - Page 15

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          have chosen but did not.  Commissioner v. Natl. Alfalfa                     
          Dehydrating & Milling Co., 417 U.S. 134, 149 (1974); see also In            
          re Steen, 509 F.2d 1398, 1402-1403 n.4 (9th Cir. 1975)                      
          (maintaining that to allow a taxpayer to challenge his own forms            
          in favor of asserted “substance” would encourage                            
          posttransactional tax planning and unwarranted litigation and               
          would raise a monumental administrative burden and substantial              
          problems of proof for the Government).                                      
               Young’s letter of April 21, 1997, and Coburn’s response to             
          Young’s letter on May 1, 1997, establish that petitioner had been           
          advised that she had several options that she could pursue with             
          respect to using Mr. Walker’s 25-percent interest in the Happy              
          Valley property to satisfy at least a part of her equalizing                
          money judgment.  In particular, Coburn’s response to Young’s                
          letter asserted that, if petitioner chose to accept Mr. Walker’s            
          interest in the Happy Valley property within 1 year of the end of           
          their marriage and then decided to sell her undivided interest in           
          that property, she would be responsible for the entire amount of            
          tax resulting from the sale.  The record in this case                       
          demonstrates that this option was the one that petitioner chose             
          to follow.                                                                  
               Petitioner voluntarily entered into the Settlement Agreement           
          with Mr. Walker on September 22, 1997, and accepted his                     
          25-percent interest in the Happy Valley property in consideration           






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