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Once again, thank you for your thoughts on this matter. Unfortunately, as all too often happens when dealing with issues like this I am overwhelmed by the feeling that this is needlessly overcomplicated. I am however looking at this matter from the perspective of someone who is actually trying to comply with the law, not fudge my way around it.
But I digress…

Ira wrote:
If you sell stock that is jointly owned, you each are selling a portion of what is sold. You can't sell just "her" portion, or "your" portion. In order to accomplish this, you must split the account first.


Well this changes things. I had entertained the notion of selling part of my shares and keeping part. It this point I am more inclined to sell all the shares at once even though I realize we can split the shares before selling.

Peter wrote:
I don't disagree that there is a risk the IRS would take the position you mention here, but I think that with the proper documentation it could be overcome. I also agree with your suggestion that it would be far safer to just open a second account to deal with the transaction. That, in effect, makes the necessary paper trail.


I don't want to have to try and explain my “intentions” to the IRS after the fact. It seems that the work I was trying to avoid, opening a joint account simply to sell the shares, may be the easiest way to handle this. The paper work will be handled by the broker and the transaction is simple. I also believe a letter explaining our intentions at the time we open the account and deposit the shares would be helpful.

Thanks again,
Kurt
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