Dean and Robin owned a family business, each holding the shares as community property. When they were

Question:

Dean and Robin owned a family business, each holding the shares as community property. When they were divorced in 2011, the court did not force them to split the shares, citing damage to the business that could occur if the public learned that ownership of the enterprise was changing. Now it is 2014, and Robin wants to remarry. She and her new husband want to have the business retitle one-half of the shares in Robin’s name only. The original divorce court agrees in 2014. Is this transfer subject to income tax? Is it subject to gift tax?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Federal Tax Research

ISBN: 9781285439396

10th Edition

Authors: Roby Sawyers, William Raabe, Gerald Whittenburg, Steven Gill

Question Posted: