(1) Capital gains realized from sale of condominium units by father’s S corporation constituted “gross income,” for purposes of calculating father’s child support obligation; (2) funds that father drew from line of credit did not constitute “gross income”; (3) appropriate measure of father’s income from S corporation was not adjusted gross income noted in tax return, but rather, was proceeds from sale of condominiums less legitimate business expenses.
http://www.courts.state.nh.us/supreme/opinions/2014/2014066maves.pdf
Laura W. Morgan is the owner and operator at Family Law Consulting in Charlottesville, Virginia.Laura is available for consultation, brief writing and research on family law issues throughout the country. She can be reached through her website. www.famlawconsult.com
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