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This issue, pertaining to petitioner’s taxable year 1996,
has already been before this Court.2 Petitioner is a retired
United States Air Force military officer. Petitioner and Mary
Alice Warriner (Ms. Warriner) married on September 10, 1981, and
separated in September 1993. The District Court, El Paso County,
State of Colorado (Colorado court) entered a Temporary Order on
October 26, 1995. The same court entered Final Orders and a
Decree of Dissolution on February 1, 1996. The Final Orders were
a part of, and incorporated into, the Decree of Dissolution.
The Final Orders state, in pertinent part:
4. The parties had accumulated several pieces of real
property in Colorado during this marriage. Over the course
of the last years of the marriage, * * * [petitioner] wasted
the marital estate by failing to pay mortgages and bills
when due from the proceeds of rent checks, allowing several
foreclosures, not responding to creditor summons, converting
assets into investments outside the marital estate, and then
not informing * * * [Ms. Warriner] of these actions until
default or judgment entered. The Court finds that the total
loss amounted to $454,150.00 in assets, costs, and judgments
accumulated over the last years of the marriage.
5. The real property presently titled in the name of * * *
[Ms. Warriner], acquired during the marriage has a net asset
value of $111,000.
6. The total net loss of marital assets is therefore * * *
$343,150.00 * * * [Ms. Warriner] is entitled to recover one
half of this amount, or $171,575.00 as a property settlement
from * * * [petitioner].
7. There * * * [exists] a military retirement which is a
part of the marital estate and is marital property subject
to equitable division.
2See id.
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