- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
also, any income earned in the account would be a 50/50 split for income tax purposes. If you don't want the 50% that is yours, you can gift your interest to her. Most likely the value would require filing a gift tax return. If this is done in the same year as the sale you would only file 1 gift tax return showing the gift of proceeds and the gift of your share of the assets in the account.
‎July 20, 2023
8:01 PM
2,375 Views