Drummond v. Commissioner

1976 T.C. Memo. 55, 35 T.C.M. 243, 1976 Tax Ct. Memo LEXIS 355
CourtUnited States Tax Court
DecidedFebruary 26, 1976
DocketDocket Nos. 286-68, 362-68.
StatusUnpublished

This text of 1976 T.C. Memo. 55 (Drummond v. Commissioner) is published on Counsel Stack Legal Research, covering United States Tax Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Drummond v. Commissioner, 1976 T.C. Memo. 55, 35 T.C.M. 243, 1976 Tax Ct. Memo LEXIS 355 (tax 1976).

Opinion

ROBERT W. DRUMMOND, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
LOIS B. DRUMMOND, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Drummond v. Commissioner
Docket Nos. 286-68, 362-68.
United States Tax Court
T.C. Memo 1976-55; 1976 Tax Ct. Memo LEXIS 355; 35 T.C.M. (CCH) 243; T.C.M. (RIA) 760055;
February 26, 1976, Filed
*355

Held, amounts paid by Robert Drummond to Lois Drummond with proceeds of a stock brokerage account he opened in Lois' name and from his own funds, and amounts paid by Robert with his own funds to trade creditors of Lois, were paid under a support decree and were taxable to Lois in 1964 under sec. 71(a)(3), I.R.C. 1954, and deductible by Robert under sec. 215.

David N. Bressler, for the petitioner in docket No. 286-68.
Morris H. Sheer, for the petitioner in docket No. 362-68.
Gerald V. May, Jr., for the respondent.

DRENNEN

MEMORANDUM FINDINGS OF FACT AND OPINION

DRENNEN, Judge: Respondent determined deficiencies in petitioners' Federal income taxes for the year 1964 as follows:

Docket
No.PetitionerDeficiency
286-68Robert W. Drummond$ 14,689.77
362-68Lois B. Drummond4,715.48

These two cases were consolidated for trial, briefing, and opinion. We must decide three issues: 1

(1) Whether payments made by Robert W. Drummond to his wife, Lois B. Drummond, from funds of a stock brokerage account, title to which was in the name of Lois B. Drummond, constituted taxable income to Lois as payments for support or maintenance under section 71(a)(3), I.R.C. 1954, 2 and deductible to Robert under section 215; *356 or whether such payments constituted a nontaxable return of capital to Lois, nondeductible by Robert.

(2) Whether payments made by Robert to Lois' trade creditors were includable in her income under section 71(a)(3) as support payments and deductible by Robert or whether these payments were not within the purview of that section because not paid directly to her in compliance with a Pennsylvania State court support decree.

(3) Whether a payment of $ 57.50 made directly to Lois by Robert with funds from his personal checking account was a support payment taxable to Lois under section 71(a)(3); or whether this represented a repayment of an advance made by Lois on behalf *357 of Robert in a prior year.

FINDINGS OF FACT

Some of the facts have been stipulated and the stipulation, together with exhibits attached thereto, is incorporated herein by this reference.

Petitioner Robert W. Drummond (Robert) presently resides in Carthage, N.C. During 1964, the tax year in question, Robert resided in Philadelphia, Pa., and filed his income tax return, computed under the cash receipts and disbursements method of accounting, with the district director, Internal Revenue Service, Philadelphia, Pa.

Petitioner Lois B. Drummond (Lois) resides in Wayne, Pa. She also filed her 1964 income tax return with the Philadelphia office and likewise computed income under the cash receipts and disbursements method.

During Robert's entire business career, from 1929 through 1970, he was employed in Philadelphia as an investment counselor and account executive. Robert began his career with E. H. Rollins & Sons; in late 1937 or 1938 he joined the firm of Payne, Webber (now Payne, Webber, Jackson & Curtis) and remained with them until 1955. From 1955 until his retirment in 1970, Robert was employed by Francis I. duPont & Co. He was not a partner in any of these firms.

Prior to her marriage *358 to Robert, Lois had been employed as an executive secretary by the H. D. Von Frankinberg Company of N.Y., N.Y. Petitioners were married April 23, 1937, and Lois has not been employed since that date.

Shortly after petitioners returned from their honeymoon and after Robert had joined the firm of Payne, Webber a stock brokerage account was established at Payne, Webber. Robert opened the account with his personal funds. Title to this account was placed in the name of Lois B. Drummond and was so registered on the books of the custodian, Payne, Webber.

In 1955 when Robert began employment with Francis I. duPont & Co., the stock account was transferred to that firm; title to the account remained in the name of Lois B. Drummond.

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1976 T.C. Memo. 55, 35 T.C.M. 243, 1976 Tax Ct. Memo LEXIS 355, Counsel Stack Legal Research, https://law.counselstack.com/opinion/drummond-v-commissioner-tax-1976.