- 13 - revg. in part and remanding 106 T.C. 184 (1996); Getty v. Commissioner, 913 F.2d 1486, 1490 (9th Cir. 1990) (whether proceeds of a settlement should be characterized as a gift or taxable income), revg. 91 T.C. 160 (1988). After submitting the motion for summary judgment, respondent requested and was granted leave to file a memorandum of points and authorities in support of respondent’s motion for summary judgment (herein referred to as memorandum). In the memorandum, respondent makes three arguments in further support of his position that none of the payments petitioner received in settlement of Campbell v. State Farm is excludable from gross income under section 104(a)(2). The first argument in respondent’s memorandum is that petitioner’s tort and contract claims actually were time barred under the applicable statutes of limitations in Arizona before the complaint in Campbell v. State Farm was filed. Respondent points out that Campbell v. State Farm “was not filed until October 8, 1999--approximately sixteen years after the accident and fourteen years after the alleged breach.” According to respondent, this was well after both the 2-year period of limitations applicable to personal injury suits and the 6-year period of limitations applicable to “any cause of action whichPage: Previous 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Next
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