Thanks, Bsch4477!
I understand about ‘in kind’ transfers.
This may be a little different.
Let me see if I can give an example:
I have an account named ‘Husband’ with my social security number for taxes.
My wife has an account named ‘Wife’ with her social security number for taxes.
Can I transfer (not sell/buy) the assets currently in Husband to Wife without tax impact?
It just seems that from the IRS perspective something taxable might have happened in the Wife account after that transfer.
Critter-3: the accounts are already housed at the same institution - Fidelity.
We don’t expect a tax advantage. The concern is a tax impact.
We’ve filed jointly for 50 years. We don’t expect that to change.
The biggest reason to do this is to simplify our lives. And more specifically simplify my wife’s life if I wasn’t around.
Thanks for the help. If I can provide additional information, just let me know!
