When one spouse purchase half home ownership from another one. what are .tax implications?

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02-11-2017, 02:05 AM

curiousv

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Join Date: Feb 2017

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When one spouse purchase half home ownership from another one. what are .tax implications?

A legally separated couple jointly owns a house worth 120k. It was there agreement that one spouse can pay 60k and get the full ownership. But if they do so ....in this case what will be tax implications to each spouse...one is receiving money and other is getting full ownership of the house?

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