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Hamilton County, Tennessee, and incorporated into that court’s
final divorce decree. The first few pages of the MDA are
dedicated to the division of marital property. Under the heading
“Alimony”, paragraph 14(a) of the MDA provided that Dr. Perkins
would pay to petitioner, until May 9, 2004, when she would reach
the age of 59-1/2, alimony in futuro in an amount equal to 20
percent of Dr. Perkins’s earned income. Paragraph 14(b) of the
MDA stated that Dr. Perkins’s obligation to pay alimony in futuro
would cease upon the death of petitioner, upon petitioner’s
remarriage, or at Dr. Perkins’s death should it occur before May
9, 2004. Under paragraph 14(f), the MDA provided that if Dr.
Perkins was to become disabled and receive benefits from his
professional disability policy, petitioner was to receive 20
percent of the policy benefits until Dr. Perkins’s alimony
obligation terminated on May 9, 2004.
At some point prior to January 1, 2003, Dr. Perkins became
disabled and started receiving payments under his professional
disability policy. During 2003, Dr. Perkins paid to petitioner
$26,400 of his policy benefits for that year.2
Petitioner filed, in a timely manner, a Form 1040, U.S.
Individual Income Tax Return, for the 2003 taxable year, on which
she failed to report any of the $26,400 paid to her by Dr.
2 That amount was paid to petitioner in 12 monthly
installments of $2,200.
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Last modified: March 27, 2008