§15 — Effect of changes

We hold it did not ; (2) whether Howard Slater (petitioner) participated in a nonqualified deferred compensation plan under section 409A .

Therefore, we hold that Mr .

We hold, therefore, that the profits arising from the - 23 - sale in question were income to the taxpayer in the year 1918.” Parish-Watson & Co.

Judicial Estoppel Petitioner argues that respondent should bejudicially estopped from asserting that the section 15.2 ofthe deed is inconsistent with the proceeds regulation. Petitioner cites a District Court case in which the United States stipulated that the proceeds regulation's perpetuity requirement was satisfied in a clause containing the same text as section 15.2 ofthe deed in the instant case. M Joint Stipulation ofFacts for Purposes ofSummary Judgment, at 4, DMB Realco, LLC v. United St

son v. Commissioner, 118 T.C. 106, 113 (2002), affd. 353 F.3d 1181 (10th Cir. 2003). Section 6015 does not provide that re- spondent bears the burden of proof under section 6015(g)(2). We conclude that petitioner bears the burden of proof under that section. 15Petitioner argues, in the alternative, that respondent should be precluded from relying on sec. 6015(g)(2) because respondent did not raise that provision in respondent’s plead- ings. We reject petitioner’s alternative argument regarding s

The Manager shall not have any liability for the return of each Member’s capital contribution, which return shall be payable solely from the assets of the Company at the absolute discretion of the Manager, subject to the requirements of the Act and Section 15 hereof. 18. Exculpation and Indemnification. a. No Member, Manager, Officer, employee or agent of the Company and no employee, representative, agent, shareholder or Affiliate of the Member or the Manager (collectively, the “Covered Persons

and O sold their PPNs and CDs for cash (80 percent) and LIBOR notes (20 percent). These transactions were intended to satisfy the requirements of a contingent installment sale under I.R.C. sec. 453. Relying on the ratable basis recovery rules under sec. 15A.453-1(c), Temporary - 2 - Income Tax Regs., 46 Fed. Reg. 10711 (Feb. 4, 1981), the partnerships applied one-sixth of their bases in the PPNs and CDs in computing their "gains" on the sales of the PPNs and CDs. Due to a large disparity in the

and O sold their PPNs and CDs for cash (80 percent) and LIBOR notes (20 percent). These transactions were intended to satisfy the requirements of a contingent installment sale under I.R.C. sec. 453. Relying on the ratable basis recovery rules under sec. 15A.453-1(c), Temporary - 2 - Income Tax Regs., 46 Fed. Reg. 10711 (Feb. 4, 1981), the partnerships applied one-sixth of their bases in the PPNs and CDs in computing their "gains" on the sales of the PPNs and CDs. Due to a large disparity in the

rns connected thereto were the result of a - 2 - carefully crafted and faithfully executed sequence of sophisticated and costly financial maneuvers that left little to chance or market opportunities. P used the contingent payment sale provisions of sec. 15a.453-1(c), Temporary Income Tax Regs., 46 Fed. Reg. 10711 (Feb. 4, 1981), to report the sale for Federal income tax purposes. In accordance therewith, P reported a large capital gain in the year of sale; most of this gain was allocated to A. I

Finally, section 15 reaffirmed that “Title (ownership) [of the Dedicated Equipment] shall remain vested in NVT,” though Thermal would bear any risk while it possessed that property.

The term “installment sale” means a disposition of property where at least one payment is to be received after the close of the taxable year in which the disposition occurs. See id. para. (b)(1). Mr. Barney, however, elected out of the installment method, and respondent has denied Mr. Barney’s subsequent request to revoke this prior

§ 15a.453-1(d)(3)(i) (“A taxpayer who reports an amount realized equal to the selling price including the full face amount of any installment obligation on the tax 19 As mentioned supra note 3, petitioners now assert that they did not acquire ownership of the Merck & Co. and Colgate Palmolive FRNs; however, resolution of that dispute is not necessa

of Unified Collective. 13 The “safety valve” permits defendants who meet five requirements to be sentenced without regard to drug-quantity-based mandatory minimum penalty provisions. 2 Gerald F. Uelmen & Alex Kreit, Drug Abuse and the Law Sourcebook § 15:21 (2022). The safety valve is codified in 18 U.S.C. § 3553(f). A defendant can qualify for the safety valve by making a proffer that the five requirements in 18 U.S.C. § 3553(f) are satisfied. 2 Uelmen & Kreit, supra, at § 15:21; see also U.S.

Code §§ 15-101(a), 15-102(a) (2021). The Estate offered no evidence either before IRS Appeals or in this Court that it recorded the Judgment as contemplated by D.C. law. Nor does the Estate argue that Ms. Washington perfected a lien by any other means, such as by following the procedures described in D.C. Code § 15-301–323. The Estate argues that no reco

esponding to the preliminary award recommendation; (ii) A summary report that states a preliminary computation of the amount of collected proceeds, the recommended award percentage, the recommended award amount (even in cases when the application of section 15 [*15] 7623(b)(2) or section 7623(b)(3) results in a reduction of the recommended award amount to zero), and a list of the factors that contributed to the recommended award percentage; (iii) An award consent form; and (iv) A confidentiality

15A.453-1(b)(2)(v), Temporary Income Tax Regs., 46 Fed. Reg. 10710 (Feb. 4, 1981). Interest is not part ofthe gross profit, and it is excluded from the selling price, the contract price, and the installment sale payment. I_d. subdiv. (ii), 46 Fed. Reg. 10709. The gross profit (realized or to be realized when - 92 - [*92] payment is completed)

Section 15.1 ofthe deed provides that, following ajudicial extinguishment, the donee shall be entitled to a portion ofthe proceeds "at least equal to the perpetual conservation restriction's proportionate value unless otherwise provided by Georgia law at that time." The deed provides: "This easement constitutes a real property interest

Section 15.1 ofthe deed provides that, following ajudicial extinguishment, the donee shall be entitled to a portion ofthe proceeds "at least equal to the perpetual conservation restriction's proportionate value unless otherwise provided by Georgia law at that time." The deed provides: "This easement constitutes a real property interest

15, "[a] division ofa corporation is not a separate entity but is the corporation itself"). There must be something unique to this situation for us to divert from that customary understanding. Accordingly, to reach our holding we - 24 - must examine the creation ofBLREDCo and the authority under which it seeks to be considered an entity separ

15, "[a] division ofa corporation is not a separate entity but is the corporation itself"). There must be something unique to this situation for us to divert from that customary understanding. Accordingly, to reach our holding we - 24 - must examine the creation ofBLREDCo and the authority under which it seeks to be considered an entity separ

.S. citizen working abroad for the U.S. Department ofState pursuant to a PSA, authorized under 22 U.S.C. sec. - 7 - 2669(c), was an employee covered by the statutoryprotections ofthe Age Discrimination in Employment Act of 1967, Pub. L. No. 90-202, sec. 15, 81 Stat. at 607 (codified as amended at 29 U.S.C. sec. 633a (2012))); see also 48 C.F.R. sec. 637.104-71(b) (2017) (defining a PSA as "a method ofemployment using the statutory authority under 22 U.S.C. [sec.] 2669(c)"). Petitioner has cited,

15.6, provides that "[a] captive insurance company may not make a loan to or an investment in its parent company or affiliated persons without prior written approval ofthe Registrar, and any such loan or investment shall be (continued...) - 44 - Commissioner began his omphaloskeptical review. Heritor communicated the information to the St. Ki

15.6, provides that "[a] captive insurance company may not make a loan to or an investment in its parent company or affiliated persons without prior written approval ofthe Registrar, and any such loan or investment shall be (continued...) - 44 - Commissioner began his omphaloskeptical review. Heritor communicated the information to the St. Ki

Section 15A.453- 1(d)(2)(i), Temporary Income Tax Regs., 46 Fed. Reg. 10717 (Feb. 4, 1981), states: "An installment obligation is considered to be property and is subject to valuation * * * without regard to whether the obligation is embodied in a note, an executory contract, or any other instrument, or is an oral promise enforceable under local la

- 55 - [*55] Except as provided in Section 15.03, amend this agreement.

Section 15.1 ofthe 2001 deed oftrust contains standard provisions that any transfer ofany interest in the property was prohibited without the consent ofHillcrest Bank and that a violation ofthe transfer prohibition would result in an event ofdefault. The 2001 deed oftrust also requires any amendment to be in writmg. - 27 - [*27] Through a series o

n that "[t]he intent to grant an easement must be so manifest on the face ofthe instrument . . . that no other construction can be placed on it." Fitzgerald Living Tr., 460 F.3d at 1267 (quoting 25 Am. Jur. 2d Easements And Licenses In Real Property § 15 (2004)). The 1976 Warranty Deed states "Grantors shall have access from remaining property in St. Paul Lode Mining Claim to low water mark ofabove described property." (Emphasis added.) The parties agree that the "low water mark" was located at

The determination is fact specific for each boat, but Coast Guard guidelines suggest that Heitmeier's staffing decisions were not out ofthe ordinary. See, e.g., The U.S. Coast Guard, Marine Safety Manual Vol. III: Marine Industry Personnel, B2-7 (2014), available at http://www.useg.mil/directives/cim/16000-16999/CIM_16000_8B.pdf. This

the $54,507 New York State overpayment is includable in their Federal taxable income, then they are liable for the accuracy-relatedpenalty. - 3 - [*3] Empire Zone Enterprise (QEZE) fortaxes paid on real property in an Empire Zone. See N.Y. Tax Law sec. 15 (McKinney 2014 & Supp. 2015). A business must submit an application in order to become a QEZE. A business may become eligible to claim various targeted tax credits ifits application is accepted, it operates within a designated area, and it mee

have provided no authority contradicting that statement. Moreover: "Generally, in the absence ofa statute otherwise providing, a signature may be affixed by writingby hand, by printing, by stampine, or by various other means." 80 C.J.S., Signatures, sec. 15 (2010) (emphasis added); ç(cid:16)25H4arper v. Commissioner, 99 T.C. 533, 548 (1992) ("A notice ofdeficiency is not invalid because it bears a stamped signature."). Respondent has satisfiedhis obligation under section 6203 to furnish petition

15.002 (West 2002). The parties settled all the issues in the Mantors' individual case except for some items that both parties agreed needed to be dismissed for lack ofjurisdiction, and we severed that individual case after trial. All that's left for us to decide then is whether Mantor and Smith generated bases in their partnership interests w

l ofthis case would lie absent aistipulationto the contrary, selling . expenses are treated as an adjustment to the seller's basis in the property. , Kirschenmann v. Commissioner, 488 F.2d 270, 272 (9th Cir. 1973), rev'g 57 T.C. 524 (1972); see also sec. 15A.453-1(b)(2)(v), Temporary Income Tax Regs., 46 Fed. Reg. 10710 (Feb. 4, 1981). Respondent argues that petitioners have not - 14 - [*14] proven the payments to Mrs. Friedman relate to expenses on the sale ofthe Corona property.9 Mr. Parker cr

We conclude that petitioner does not meet the requirements ofsection 15 (c)(1)(B) or (d)(1)(C)..

We understand the principle there to be that "stock" described in section 15D4(a)(4) has a limited claim on the earnings and equity ofthe issuer and, thus, is more akin to debt than to equity.

- 4 - Under section 152 (c) ( ) (A) the~term "qualifying child" means an individual "who bears a relationship to the taxpayer described in-paragraph (2 )1"7.6 i Anrirndividuah bears as-relationship to' a taxpayer for.purposes ofesection 15-2(c) (1):(A) if the indigidual, is 2"a child of the taapayer or a descendant«of asuch a.child" or, "atbrothet sister stépbrother, orfstepsister of the .taxpayer or a descendant of any such relative .

ion 6015(f), we apply a de novo standard of review and a de novo scope of review. A de novo standard of review means that the reviewing court must make an "'independent determination of the issues.'" 3 Childress & Davis, Federal Standards of Review, sec. 15.02, at 15-3 to 15-5 (4th ed. 2010) (quoting United States v. First City Natl. Bank, 386 U.S. - 20 - 361, 368 (1967)). Accordingly, we shall consider petitioner's request for relief under section 6015(f) on the merits. V. Rev. Proc. 2003-61 Th

ment has no merit. The statutes, caselaw, and regulations governing installment sales clearly make installment- method reporting the default method absent an affirmative election. See sec. 453(d) (1); Bolton v. Commissioner, 92 T.C. 303, 306 (1989); sec. 15a.453-1(d) (1), Temporary Income Tax Regs., 46 Fed. Reg. 10717 (Feb. 4, 1981). Notably, respondent provides no legal authority to support his argument. - 17 - during that year." To determine the capital gain, the seller multiplies- the total a

s (subject matter) jurisdiction is raised in the original action, * * * there is no reason why the determination of the issue should not therefore be conclusive Tinder the usual rules of issue preclusion.’” (quoting Restatement (second) of Judgments sec. 15, cmt. c at 154 (Tent. Draft No. 6, 1979) (emphasis supplied)). Privity for invoking collateral estoppel is supplied by sec. 6226(c)(1) (specifying that “each person who was a partner in such partnership at any time during such year shall be t

15.705(a) (2004); 46 C.F.R. sec. 15.705(a) (2005). - 5 - 2. The Types of Work Days and the Frequency of Each Type Madsen lived in Bellingham, Washington. During ~2004 and 2005, all of Madsen's work was done while she was traveling away from her home.. We base our.description of each of her days of work on stipulated work schedules for 2004 an

Accordingly, we conclude that petitioner is entitled to a dependency exemption deduction for JT for 2006 because JT is petitioner's qualifying child within the definition of section 15;2 (c) Earned Income Credit .Subject to certain limitations, an eligible individual is allowed a tax credit calculated as a percentage of the individual's earned income .

Section 24(c)(1) defines the term "qualifying child" as "a qualifying child of the taxpayer (as defined in section 15,2(c)) who has.

The issues we c nsider turn on whether either o petitioner's daughte s was a dependent as defined in section 15 for .20031.

tax credit for each qualifying child of a taxpayer (as defined under section 15,2(c)) who i s under.17 years of age .

Section 15A.453-1(d)(3)(i), Temporary Income Tax Regs., 46 Fed. Reg. 10718 (Feb. 4, 1981), provides, in pertinent part: A taxpayer who reports an amount realized equal to the selling price including the full face amount of any installment obligation on the tax return filed for the taxable year in which the installment sale occurs will be considered

- 4 - While section 15~2 (e) provides for certain exceptions to thi s rule , none of t] ose exceptions applies to this .

ree. As described above, section 152(e) pröVides that the custodial parent is entitled to the exemption unless the noncustodial parent fits within one of the exceptions. We previously explained that petitioners do not come within the exception under section 15.2(e)(2). Petitioners do not fit within any of the other exceptions.3 +1 For the reasons set forth herein, respondent's determination is sustained. Reviewed and adopted as the r port of the Small Tax Case Division. Decision will be entered

The Manager shall not have any liability for the return of each Member’s capital contribution, which return shall be payable solely from the assets of the Company at the absolute discretion of the Manager, subject to the requirements of the Act and Section 15 hereof. * * * * * * * 18. Exculpation and Indemnification. a. No Member, Manager, Officer, employee or agent of the Company and no employee, representative, agent, shareholder or Affiliate of the Member or the Manager (collectively, the “Co

decision reached by the administrative agency; that is, the reviewing court may substitute its judgment for that of the agency (even if such court’s scope of review is the administrative record). See 2 Childress & Davis, Federal Standards of Review, sec. 15.02, at 15-3 – 15-4 (3d ed. 1999). - 44 - petitioner contends.3 Following respondent’s lead, the majority opinion and concurring opinion largely frame that issue in terms of whether the judicial review provisions of the Administrative Procedur

Disability Section Section 15 of the trust agreement (the disability section) 4 Sec.

ly to form two general partnerships, S and O. The partnerships engaged in financial transactions that were intended to satisfy the requirements of a contingent installment sale under I.R.C. sec. 453. Relying on the ratable basis recovery rules under sec. 15A.453-1(c), Temporary Income Tax Regs., 46 Fed. Reg. *This opinion supplements our previously filed Memorandum Opinion in Saba Pship. v. Commissioner, T.C. Memo. 1999-359, vacated and remanded 273 F.3d 1135 (D.C. Cir. 2001). - 2 - 10709 (Feb.

ly to form two general partnerships, S and O. The partnerships engaged in financial transactions that were intended to satisfy the requirements of a contingent installment sale under I.R.C. sec. 453. Relying on the ratable basis recovery rules under sec. 15A.453-1(c), Temporary Income Tax Regs., 46 Fed. Reg. *This opinion supplements our previously filed Memorandum Opinion in Saba Pship. v. Commissioner, T.C. Memo. 1999-359, vacated and remanded 273 F.3d 1135 (D.C. Cir. 2001). - 2 - 10709 (Feb.

r documents. Mecom v. (continued...) - 21 - in California, petitioner’s residence,7 see Smalley v. Baker, 69 Cal. Rptr. 521, 527 (Ct. App. 1968); Cal. Prob. Code sec. 812 (West Supp. 2002), and in most other States, see 1 Restatement, Contracts 2d, sec. 15 (1981), although a “compulsion” or “irresistible impulse” standard has been applied on occasion, see Faber v. Sweet Style Manufacturing Corp., 242 N.Y.S.2d 763 (Sup. Ct. 1963). Undue influence, taking advantage of a contracting party’s impaire

15A.453-1(b)(3)(i), Temporary Income Tax Regs., 46 Fed. Reg. 48920 (Oct. 5, 1981). In the context of a deferred exchange where cash or a cash equivalent provides security for the transfer of replacement property and is held in an escrow account or trust, the question arises whether, for purposes of applying the installment sale rules of sectio

See also Alaska Stat.

15A.453-1(d)(3)(i), Temporary Income Tax Regs., 46 Fed. Reg. 10718 (Feb. 4, 1981). Once made, an election cannot be revoked without the consent of the Secretary. Sec. 453(d)(3). Petitioner concedes that she reported the full amount realized from the sale of her residence on her 1995 tax return. She argues, however, that this was not a valid el

ary obligor”, guarantees the corporation’s obligations, may have been intended to create in petitioner (and his father) joint and several liability with the corporation for - 18 - repayment of the loan. See Restatement 3d, Suretyship and Guaranty, sec. 15 (1996) (Restatement). Nevertheless, petitioner’s guarantor (suretyship) status indicates that, as between the corporation and the petitioner, it is the corporation which ought to perform the underlying obligation or bear the cost of performance

defines an installment sale as "a disposition of property-where at least 1 payment is to be received after the close of the taxable year in which the disposition occurs." In pertinent part, section 453(f)(4) provides: "Receipt of a bond or other evidence of indebtedness which--(A) is payable on demand * * * shall be treated as receipt of payment." Section 15a.453-1(e)(1)(i), Temporary Income Tax Regs., 46 Fed.

Code Ann. sec. 5.01 (Vernon 1993). Under Texas law, community property consists of all property acquired by either spouse during marriage, except for property acquired by gift, devise, or descent, or (with certain exceptions) in recovery for personal injuries sustained by a spouse in marriage. Tex. Fam. Code Ann. sec. 5.01. Prope

osition of property on the installment method is made by the due date of the taxpayer's return for the year in which the disposition occurs and in the manner prescribed by the appropriate tax forms for that return. See Bolton v. Commissioner, supra; sec. 15A.453-1T(d)(3), Temporary Income Tax Regs., 46 Fed. Reg. 10718 (Feb. 4, 1981). Specifically, a taxpayer who reports an amount realized which - 4 - equals the selling price and includes the full face amount of any installment obligations receiv

Section 15 of the purchase agreement similarly stated: “TRAINING: Seller shall train buyer in the operation of the business”. On August 14, 1993, petitioners sent a letter to memorialize completion of this training which reads in part: “As of August 13, 1993, Sharon has completed the training with Priti in accordance with the requirements of our Pu

15.51(c) (West 1990); Justin Belt Co. v. Yost, 502 S.W.2d 681 (Tex. 1974). Thus we conclude the Noncompete Agreement reflected economic reality. Did the Parties Allocate $300,000 to the Covenant Not To Compete? The final and most difficult question concerns whether petitioner has shown that petitioner and Wagner agreed to allocate $300,000 to

The Trustee and any Successor Trustee hereunder shall have the fiduciary powers enumerated in Section 15-102 of the Estates and Trusts Article, Annotated Code of Maryland, as amended from time to time, specifically including the right to employ appropriate assistance in the administration of the Trust, including accountants, attorneys and invest- ment advisors.

partnership’s $170,267 gain on the 1991 sale of Store 5 as follows: $200,000 sales price for Store 5 less partnership’s depreciated tax basis in Store 5 and in the associated videos of $29,733 equals $170,267. - 13 - Law of Federal Income Taxation, sec. 15.05, at 21, 15.22, at 57 (1997 rev.). Although petitioners object to this adjustment to the partnership’s income for 1991, petitioners provide no basis for their objection. We sustain respondent’s adjustment. Rental Income During the years in i

lso determined in the deficiency notice that petitioner is liable for (1) additions to tax for fraud under section 6653(b)(1)(A) and (B) for 1987,16 (2) an addition to tax for fraud under section 6653(b) for 1988,17 and (3) a penalty for fraud under section 15 In the alternative, respondent contends that petitioner's return for 1990 is subject to the 6-year period of limitations applicable under sec.

15, does not denote physical or emotional harm to a person.) In Zimmerman v. HBO Affiliate Group, 834 F.2d 1163, 1169 (3d Cir. 1987), the Court of Appeals held in this regard as follows: A plaintiff seeking recovery under RICO must allege injury "in his business or property" caused by violation of the Act. In Reuter v. Sonotone, 442 U.S. 330,

the Dealerships nor the contract holders had access to the reserves or the right to control the actions of the Escrow Trustees. The escrow arrangement was therefore not an agency relationship. See generally 1 Restatement, supra sec. 8; Bogert, supra sec. 15, at 163, 168-169, 172-176. Cf. McCrory v. Commissioner, 69 F.2d 688, 689 (5th Cir. 1934), affg. 25 B.T.A. 994 (1932). We are satisfied that the PLRF accounts would qualify as trusts under general principles of law as well as the law of the pa

the Dealerships nor the contract holders had access to the reserves or the right to control the actions of the Escrow Trustees. The escrow arrangement was therefore not an agency relationship. See generally 1 Restatement, supra sec. 8; Bogert, supra sec. 15, at 163, 168-169, 172-176. Cf. McCrory v. Commissioner, 69 F.2d 688, 689 (5th Cir. 1934), affg. 25 B.T.A. 994 (1932). We are satisfied that the PLRF accounts would qualify as trusts under general principles of law as well as the law of the pa

the Dealerships nor the contract holders had access to the reserves or the right to control the actions of the Escrow Trustees. The escrow arrangement was therefore not an agency relationship. See generally 1 Restatement, supra sec. 8; Bogert, supra sec. 15, at 163, 168-169, 172-176. Cf. McCrory v. Commissioner, 69 F.2d 688, 689 (5th Cir. 1934), affg. 25 B.T.A. 994 (1932). We are satisfied that the PLRF accounts would qualify as trusts under general principles of law as well as the law of the pa

15A.453-1(b)(3)(i), Temporary Income Tax Regs., 46 Fed. Reg. 10710 (Feb. 4, 1981). Taxpayers are not entitled to report gain under the installment method if they directly or indirectly control the sales proceeds or receive the economic benefit therefrom. Roberts v. Commissioner, 643 F.2d 654, 656 (9th Cir. 1981) (citing Rushing v. Commissioner

15A.453-1(b)(3)(i), Temporary Income Tax Regs., 46 Fed. Reg. 10710 (Feb. 4, 1981). Taxpayers are not entitled to report gain under the installment method if they directly or indirectly control the sales proceeds or receive the economic benefit therefrom. Roberts v. Commissioner, 643 F.2d 654, 656 (9th Cir. 1981) (citing Rushing v. Commissioner

property on the installment method is made by the due date of the taxpayer's return for the year in which the disposition occurs, and in the manner prescribed by the appropriate tax forms for that return. See Bolton v. Commissioner, supra; see also sec. 15A.453-1(d)(3), Temporary Income Tax Regs., 46 Fed. Reg. 10718 (Feb. 4, 1981). Specifically, a taxpayer who reports an amount realized equal to the selling price including the full face amount of any installment obligation on the tax return fil

15A.453-1(d)(3), Temporary Income Tax Regs., 46 Fed. Reg. 10718 (Feb. 4, 1981); see also Bolton v. Commissioner, 92 T.C. 303, 305-306 (1989). Respondent contends that petitioner’s disposition of the shares falls squarely within the definition of an installment sale, and, therefore, petitioners must report gain pursuant to the installment metho

Code Ann. sec. 5.01 (West 1993). Under that system, each spouse has a vested interest in, and is the owner of, one-half of all such property. Johnson v. Commissioner, 72 T.C. 340, 343 (1979). Consequently, a spouse is liable for the Federal income tax on the portion of any income that is community property. Id. A spouse, however,

s an installment sale under section 453.19 The installment method is not available for dispositions of personal property of a kind required to be included in the inventory of the taxpayer on hand at the close of the taxable year. Sec. 453(b)(2)(B); sec. 15A.453-1(b)(4), Temporary Income Tax Regs., 46 Fed. Reg. 10710 (Feb. 4, 1981). The installment method is also not available for a dealer disposition, sec. 453(b)(2)(A), which includes any disposition of real property held by the taxpayer for sal

s an installment sale under section 453.19 The installment method is not available for dispositions of personal property of a kind required to be included in the inventory of the taxpayer on hand at the close of the taxable year. Sec. 453(b)(2)(B); sec. 15A.453-1(b)(4), Temporary Income Tax Regs., 46 Fed. Reg. 10710 (Feb. 4, 1981). The installment method is also not available for a dealer disposition, sec. 453(b)(2)(A), which includes any disposition of real property held by the taxpayer for sal

MHLC and the Borrower agree that, except as otherwise provided in Section 15 hereof, payments due under the Note shall be made by the Lessee's payment of the rentals and other amounts due or to become due (including, without limitation amounts due as Stipulated Loss Value) under the Lease directly to MHLC; provided, however, that nothing contained herein shall be deemed to alter or diminish the Borrower's absolut

MHLC and the Borrower agree that, except as otherwise provided in Section 15 hereof, payments due under the Note shall be made by the Lessee's payment of the rentals and other amounts due or to become due (including, without limitation amounts due as Stipulated Loss Value) under the Lease directly to MHLC; provided, however, that nothing contained herein shall be deemed to alter or diminish the Borrower's absolut