John R. and Patricia G. Okerson - Page 1

                                   123 T.C. No. 14                                    


                               UNITED STATES TAX COURT                                


                  JOHN R. AND PATRICIA G. OKERSON, Petitioners v.                     
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      


               Docket No. 7702-03.             Filed September 9, 2004.               


                    In 1995, a State court (court) decreed that P pay                 
               to O in connection with their divorce 113 monthly                      
               payments of alimony totaling $117,000.  The 1995 decree                
               stated that this alimony would terminate if O died                     
               before the $117,000 was paid in full but that P would                  
               then be required to continue making the monthly                        
               payments towards the education of P and O’s children                   
               until the children completed 4 years of college.  In                   
               1997, the court decreed that P make 42 additional                      
               monthly payments totaling $33,500 to O’s attorney as                   
               additional alimony to O and that this additional                       
               alimony was deductible by P and taxable income to O.                   
               The 1997 decree also stated that this additional                       
               alimony would terminate if O died before the $33,500                   
               was paid in full but that P would then be required to                  
               continue making the monthly payments to O’s attorney                   
               until the $33,500 was paid in full.  During 2000, P                    
               paid $12,600 pursuant to the 1995 decree and $9,000                    
               pursuant to the 1997 decree and claimed on his 2000                    
               Federal income tax return that the total of $21,600 was                





Page:   1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  Next

Last modified: May 25, 2011