Husband Transfers Using a Minimal Basis Stock
| First Scenario—Husband Transfers Using a Minimal Basis Stock | ||
| ‘ | Husband | Wife |
| Transferred FMV of shares | $35,000 | $35,000 |
| transferred cost basis of shares | 30,000 | 8,000 |
| Taxable profit upon sale | $5,000 | $27,000 |
| Second Scenario—Husband Transfers Shares Similar To Cost Basis | ||
| Husband | Wife | |
| Transferred FMV of shares | $35,000 | $35,000 |
| Transferred cost basis of shares | 19,000 | 19,000 |
| Taxable profit upon sale | $16,000 | $16,000 |
From the illustration above, the FMV is as important as the cost basis. This should be evaluated carefully by advisors and attorneys to ensure a fair settlement and asset distribution. (more…)
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