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tolduso
New Member

I GAVE MY EX HUSBAND 70K FOR HIS SHARE OF OUR HOUSE AS A BUY OUT. CAN I MAKE IT A GIFT?

 
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Accepted Solutions
KrisD
Intuit Alumni

I GAVE MY EX HUSBAND 70K FOR HIS SHARE OF OUR HOUSE AS A BUY OUT. CAN I MAKE IT A GIFT?

No, that would not be considered a gift. 

Additionally, there is no tax advantage to gifting money to an individual. 

View solution in original post

1 Reply
KrisD
Intuit Alumni

I GAVE MY EX HUSBAND 70K FOR HIS SHARE OF OUR HOUSE AS A BUY OUT. CAN I MAKE IT A GIFT?

No, that would not be considered a gift. 

Additionally, there is no tax advantage to gifting money to an individual. 

View solution in original post

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