As in those two cases, the husband and wife
owned a corporation that operated a McDonald's franchise.
The issue in the ruling was whether the husband and wife
would be treated as the owners of the residence during the time the property was titled in the partnership.
In PLR 9644053, the IRS said that because the husband and wife
did not anticipate that the A&B stock would generate enough cash to enable the wife to pay the annuity to the husband within six years, a valid business reason existed to spread the payments out over the husband's lifetime.
A closely related issue is the proper interpretation of "exclusive use" in connection with a joint use home office; that is, a home office used by two taxpayers, such as a husband and wife
, in connection with their separate business activities.
The Malthusian-inspired Parliamentary Committee on the Poor Law in 1817, for instance, posited that the wages of a husband and wife
could feed two children.
First of all, let me say that the Bible teaches, in spirit, that husband and wife
are a partnership, with the husband's role, as senior partner, to be kind, supportive, nurturing and caring, as well as providing.
A husband and wife
owned a principal residence with an adjusted basis of $150,000.
Example 1: H and W, husband and wife
, file a joint return.