Assume I have a stock which per share cost basis is $10, I transferred it to my spouse, broker has considered it as gift. Now its fair market value(FMV) becomes $8. my spouse transfer that stock back to me. I sold it at $8. If consider these transfers as gift, then the cost basis of the share is $8 (uses FMV if lower than the actual cost basis), and thus I cannot claim loss ($2). However since the transfer happens between spouses, can I still use the original cost basis $10 and claim the $2 loss?
