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previous page Previous Page: Publication 544 - Sales and other Dispositions of Assets - Nontaxable Exchanges
next page Next Page: Publication 544 - Sales and other Dispositions of Assets - Rollover of Gain From Publicly Traded Securities
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taxmap/pubs/p544-006.htm#en_us_publink100072462

Transfers to Spouse(p20)


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Transfers to Spouse

No gain or loss is recognized on a transfer of property from an individual to (or in trust for the benefit of) a spouse, or a former spouse if incident to divorce. This rule does not apply to the following.
Any transfer of property to a spouse or former spouse on which gain or loss is not recognized is treated by the recipient as a gift and is not considered a sale or exchange. The recipient's basis in the property will be the same as the adjusted basis of the property to the giver immediately before the transfer. This carryover basis rule applies whether the adjusted basis of the transferred property is less than, equal to, or greater than either its fair market value at the time of transfer or any consideration paid by the recipient. This rule applies for determining loss as well as gain. Any gain recognized on a transfer in trust increases the basis.
For more information on transfers to a spouse, see Property Settlements in Publication 504, Divorced or Separated Individuals.
previous pagePrevious Page: Publication 544 - Sales and other Dispositions of Assets - Nontaxable Exchanges
next pageNext Page: Publication 544 - Sales and other Dispositions of Assets - Rollover of Gain From Publicly Traded Securities
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication