Gift to spouse

What is the name of your state? Kentucky

My wife and I divorced for a year. She recieved her split of retirement and 401K. At the time of our remarrage she gave me $50,000.00 from her investment account. Does she owe the tax on this money she withdrew? Thank you very much.

Gifts between spice are not taxable events. The question is whether withdrawing the $50,000 was a taxable event in & of itself. Does 'investment account' mean she had no penalties for withdrawing the money? If the account was an IRA, you'll have to see a professional preparer to help you get the money off your tax return.

There were no penalty's directly from the investments them selves but the investment firm hit her very hard. In all she spent the whole amount and was liable for taxes. We just want to know about the 50,000.00 she gave to me to start a business.