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Level 2
posted Oct 10, 2019 11:02:55 AM

If I claim my dividends, capital gains and annual cash pay out from a separate inheritance investment on our joint tax return, am I in any way commingling my inheritance?

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2 Replies
Level 15
Oct 10, 2019 11:18:31 AM

"...am I in any way commingling my inheritance?"

 

Now that is actually a legal question; you might want to seek an in-person consultation with an attorney and/or financial advisor.

 

Generally, though, for property treated as separate property to be commingled and subsequently treated as marital or community property, the property would have to be deposited into some sort of joint account or the other spouse be named on the account, title, deed, or other indicia of ownership.

 

Again, check with an attorney in your state, particularly if you reside in a community property state.

Level 2
Oct 11, 2019 8:39:03 AM

Understood. Will ask my lawyer. I just thought, because my wife has been contributing to the payment of taxable gains  and cash payouts on these investments, here in Nebraska, she may have claims to this inheritance should there be a divorce. Again, will ask a lawyer. Thanks for responding to my question.