Page:United States Statutes at Large Volume 68A.djvu/59

 CH. 1—NORMAL TAXES AND SURTAXES

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PART II—ITEMS SPECIFICALLY INCLUDED IN GROSS INCOME Sec. 71. Alimony and separate maintenance payments. Sec. 72. Annuities; certain proceeds of endowment and life insurance contracts. Sec. 73. Services of child. Sec. 74. Prizes and awards. Sec. 75. Dealers in tax-exempt securities. Sec. 76. Mortgages made or obligations issued by joint-stock land banks. Sec. 77. Commodity credit loans. SEC. 71. ALIMONY AND SEPARATE MAINTENANCE PAYMENTS. (a) GENERAL RULE. — (1) D E C R E E OF DIVORCE OR SEPARATE MAINTENANCE.—If

a

wife is divorced or legally separated from her husband under a decree of divorce or of separate maintenance, the wife's gross income includes periodic payments (whether or not made at regular intervals) received after such decree in discharge of (or attributable to property transferred, in trust or otherwise, in discharge of) a legal obligation which, because of the marital or family relationship, is imposed on or incurred by the husband under the decree or under a written instrument incident to such divorce or separation. (2) W R I T T E N SEPARATION AGREEMENT.—If a wife is separated from her husband and there is a written separation agreement executed after the date of the enactment of this title, the wife's gross income includes periodic payments (whether or not made a t regular intervals) received after such agreement is executed which are made under such agreement and because of the marital or family relationship (or which are attributable to property transferred, in trust or otherwise, under such agreement and because of such relationship). This paragraph shall not apply if the husband and wife make a single return jointly. (3) D E C R E E FOR SUPPORT.—If a wife is separated from her husband, the wife's gross income includes periodic payments (whether or not made at regular intervals) received by her after the date of the enactment of this title from her husband under a decree entered after March 1, 1954, requiring the husband to make the payments for her support or maintenance. This paragraph shall not apply if the husband and wife make a single return jointly. (b) PAYMENTS TO SUPPORT M I N O R

CHILDREN.—Subsection

(a)

shall not apply to that part of any payment which the terms of the decree, instrument, or agreement fix, in terms of an amount of money or a part of the payment, as a sum which is payable for the support of minor children of the husband. For purposes of the preceding sentence, if any payment is less than the amount specified in the decree, instrument, or agreement, then so much of such payment as does not exceed the sum payable for support shall be considered a payment for such support. (c) PRINCIPAL SUM PAID IN INSTALLMENTS.— (1) GENERAL RULE.—For purposes of subsection (a), installment

payments discharging a part of an obligation the principal sum of which is, either in terms of money or property, specified in the §71(0(1)

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