What would be the financial or tax benefit of selling a house from a husband to a wife-who are still married?

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What would be the financial or tax benefit of selling a house from a husband to a wife-who are still married?

2006-12-27 09:34:15 · 3 answers · asked by AM 2 in Business & Finance ➔ Taxes ➔ United States

Two couples we know have done this and we wonder if somehow we are missing the boat?

2006-12-27 10:10:48 · update #1

3 answers

Sounds like something shady. Maybe they are trying to create a bogus transaction for their business or shielding the property from potential liability.

I don't see any tax benefit for doing such transaction.

Best wishes.

2006-12-27 10:25:57 · answer #1 · answered by JQT 6 · 0⤊ 0⤋

Absolutely no benefit. Property transfers between spouses or property transfers due to divorce or not taxable.

2006-12-27 17:38:17 · answer #2 · answered by acmeraven 7 · 0⤊ 0⤋

it makes no difference - put it in a trust

2006-12-27 17:49:59 · answer #3 · answered by Anonymous · 1⤊ 0⤋