No. Generally, no gain or loss is recognized on a transfer of property from you to (or in trust for the benefit of):Your spouse, orYour 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 consideration. https://taxmap.irs.gov/taxmap/pubs/p504-005.htm

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glenn-jackson-jr

Level 1

Question

Can I claim a loss (over $100K) on my 2018 tax return if I was divorced in 2015 and as part of my agreement had to transfer 50% of my rollover IRA which I did in 2018?

Forum|Forum|7 years ago
June 5, 2019
1 reply
2 views

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TomD8

Alumni - Champ

No. Generally, 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 consideration.

https://taxmap.irs.gov/taxmap/pubs/p504-005.htm

**Answers are correct to the best of my ability but do not constitute tax or legal advice.