You are here: / / INCLUDING INCOME FROM STOCK ON A JOINT TAX RETURN, USING INCOME FROM THE...

INCLUDING INCOME FROM STOCK ON A JOINT TAX RETURN, USING INCOME FROM THE STOCK FOR MARITAL PURPOSES AND USING THE STOCK AS COLLATERAL FOR A LOAN DID NOT TRANSMUTE THE STOCK FROM SEPARATE TO MARITAL PROPERTY (THIRD DEPT).

The Third Department determined Supreme Court did not err in finding IBM stock to be the wife’s separate property in this divorce proceeding, The facts that income from the stock was reported on joint tax returns and was used for marital expenses did not convert the stock to marital property:

… [T]he mere reporting of income earned from the separate assets of one spouse on a joint return does not transmute the separate property to marital property because both spouses are required to report all of their income, whatever the source, on a joint return … . … [A]contrary rule “would force married persons to file separate income tax returns, and to pay higher income taxes, simply to protect the non-marital status of their separate property” … . Here, the wife’s assertion that the IBM stock was her separate property was not contrary to any position that she had taken by reporting income derived from her IBM stock on the parties’ joint income tax returns as dividends and capital gains … .

It is also well-settled that the use of funds withdrawn from an account that is separate property to pay marital expenses does not change the character of the account to marital property … . Thus, the use of dividends earned on the wife’s IBM stock to pay marital expenses was insufficient to transform the stock to marital property. Similarly, the pledge of the IBM stock as collateral for the loan used to acquire several parcels of real property located in Florida did not transmute all or any portion of the stock to separate property. This conclusion is illustrated by the fact that a spouse who contributes separate property toward the purchase of a marital asset, or whose separate property is used to pay a marital debt that was incurred to acquire a marital asset, is entitled to a credit for the separate property contribution … . Giannuzzi v Kearney, 2018 NY Slip Op 02378, Third Dept 4-5-18

​FAMILY LAW (DIVORCE, SEPARATE PROPERTY, INCLUDING INCOME FROM STOCK ON A JOINT TAX RETURN, USING INCOME FROM THE STOCK FOR MARITAL PURPOSES AND USING THE STOCK AS COLLATERAL FOR A LOAN DID NOT TRANSMUTE THE STOCK FROM SEPARATE TO MARITAL PROPERTY (THIRD DEPT))/DIVORCE (SEPARATE PROPERTY, INCLUDING INCOME FROM STOCK ON A JOINT TAX RETURN, USING INCOME FROM THE STOCK FOR MARITAL PURPOSES AND USING THE STOCK AS COLLATERAL FOR A LOAN DID NOT TRANSMUTE THE STOCK FROM SEPARATE TO MARITAL PROPERTY (THIRD DEPT))/MARITAL PROPERTY (DIVORCE, INCLUDING INCOME FROM STOCK ON A JOINT TAX RETURN, USING INCOME FROM THE STOCK FOR MARITAL PURPOSES AND USING THE STOCK AS COLLATERAL FOR A LOAN DID NOT TRANSMUTE THE STOCK FROM SEPARATE TO MARITAL PROPERTY (THIRD DEPT))/SEPARATE PROPERTY (DIVORCE, INCLUDING INCOME FROM STOCK ON A JOINT TAX RETURN, USING INCOME FROM THE STOCK FOR MARITAL PURPOSES AND USING THE STOCK AS COLLATERAL FOR A LOAN DID NOT TRANSMUTE THE STOCK FROM SEPARATE TO MARITAL PROPERTY (THIRD DEPT))/STOCK (DIVORCE, INCLUDING INCOME FROM STOCK ON A JOINT TAX RETURN, USING INCOME FROM THE STOCK FOR MARITAL PURPOSES AND USING THE STOCK AS COLLATERAL FOR A LOAN DID NOT TRANSMUTE THE STOCK FROM SEPARATE TO MARITAL PROPERTY (THIRD DEPT))/DOMESTIC RELATIONS LAW  (DIVORCE, SEPARATE PROPERTY, INCLUDING INCOME FROM STOCK ON A JOINT TAX RETURN, USING INCOME FROM THE STOCK FOR MARITAL PURPOSES AND USING THE STOCK AS COLLATERAL FOR A LOAN DID NOT TRANSMUTE THE STOCK FROM SEPARATE TO MARITAL PROPERTY (THIRD DEPT))

You might also like
SERVICE OF THE ORDER APPEALED FROM BY EMAIL DOES NOT START THE TIME TO TAKE AN APPEAL; FATHER’S REQUEST FOR TELEPHONIC AND WRITTEN CONTACT WITH HIS DAUGHTER PROPERLY DENIED; FATHER WAS INCARCERATED FOR PREDATORY SEXUAL BEHAVIOR INVOLVING A CHILD ABOUT THE SAME AGE AS HIS DAUGHTER (THIRD DEPT). ​
Criteria for Strip and Cavity Search Met
PETITIONER-POLICE-OFFICER’S SLIP AND FALL ON BLACK ICE WAS A COMPENSABLE ACCIDENT UNDER THE RETIREMENT AND SOCIAL SECURITY LAW BECAUSE THE METEOROLOGICAL CONDITIONS WERE SUCH THAT THE PRESENCE OF BLACK ICE COULD NOT HAVE BEEN ANTICIPATED (THIRD DEPT).
Criteria for Interpreting Ambiguous Property Descriptions in Old Deeds Explained and Applied
ALTHOUGH THE INSURER COULD DISCLAIM COVERAGE FOR ANY INJURIES CAUSED BY THE INSURED ASSAILANT’S INTENTIONAL CRIMINAL ACTS UNDER THE DOCTRINE OF COLLATERAL ESTOPPEL, THE INSURER COULD NOT DISCLAIM COVERAGE FOR ANY SUBSEQUENT INJURIES THAT MAY HAVE BEEN CAUSED BY THE ASSAILANT’S NEGLIGENCE (THIRD DEPT).
REPORT BY CONSULTANT IN THIS BILLING DISPUTE NOT PROTECTED BY ATTORNEY-CLIENT, ATTORNEY WORK-PRODUCT OR MATERIAL-PREPARED-FOR-LITIGATION PRIVILEGES, CRITERIA EXPLAINED (THIRD DEPT).
NEWSPAPER CARRIER WAS AN EMPLOYEE ENTITLED TO UNEMPLOYMENT INSURANCE BENEFITS (THIRD DEPT).
Warrantless Entry Justified by Exigent Circumstances

Categories

Sign Up for the Mailing List to Be Notified When the Site Is Updated.

  • This field is for validation purposes and should be left unchanged.

Copyright © 2026 New York Appellate Digest, Inc.
Site by CurlyHost | Privacy Policy

HEARSAY IN ACCIDENT REPORT NOT ADMISSIBLE UNDER THE BUSINESS RECORDS EXCEPTION... PLAINTIFF DID NOT PROVE AT TRIAL THAT HE HAD STANDING TO BRING THE FORECLOSURE...