The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Payout from divorce||Date: 5/20/2001 6:05 PM|
|Author: gailkay||Number: 51107 of 121323|
Or you can find the answer in Publication 504 - Divorced or Separated Individuals<i/>
Transfer Between Spouses
No gain or loss is recognized on a transfer of property from you to (or in trust for the benefit of):
Your spouse, or
Your former spouse, but only if the transfer is incident to your divorce.
This rule applies even if the transfer was in exchange for cash, the release of marital rights, the assumption of liabilities, or other considerations.
However, this rule does not apply if your spouse or former spouse is a nonresident alien. <more>
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|