What is the name of your state? California
Hello, I've searched for a while and cannot find specifics about this.
I have $15,000 in a stock that I want to transfer to my wife.
I paid $13,500 into it, so it's only gained $1,500.
If i sold it, i'd have to pay tax on that $1,500 right?
But what if i transfer it and SHE sells it?
Does she still get to only claim a $1,500 gain by showing my original purchase receipts for $13,500?.... or is the IRS going to want to tax her for $15,000 gain?
We will probably be filing seperately, 1st year married and just used to doing it that way.
Yes, i'm new to this, 1st stock i've owned and not sure how taxes work.
Thanks,
Dan
Hello, I've searched for a while and cannot find specifics about this.
I have $15,000 in a stock that I want to transfer to my wife.
I paid $13,500 into it, so it's only gained $1,500.
If i sold it, i'd have to pay tax on that $1,500 right?
But what if i transfer it and SHE sells it?
Does she still get to only claim a $1,500 gain by showing my original purchase receipts for $13,500?.... or is the IRS going to want to tax her for $15,000 gain?
We will probably be filing seperately, 1st year married and just used to doing it that way.
Yes, i'm new to this, 1st stock i've owned and not sure how taxes work.
Thanks,
Dan
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