Forex Trading 101

DIVORCE, TAXATION, AND STOCK OPTIONS Divorce can be a significant interruption to a family's monetary plans.

by Nikeie Worze Legislator
Nikeie Worze Freshman Legislator
In keeping with other aspects of the tax code that provide preference to married individuals, Internal Revenue Code (IRC) Section 1041 was enacted to relieve the transfer of assets in a divorce by not acknowledging gain or loss. Instead, the code alleviates a transfer in the way it treats gifts. The transferor's tax basis is communicated in addition to the possession to the other partner with restricted exposure to tax. This uses to the majority of divorce-related transfers. A typical asset that falls under this kind of transfer, is the individual home. A partner will get the home and the transfer of the title would usually be considered, a tax-free transfer.
May 24th 2016 20:28


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