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Posted by Phil Marti on April 15, 2006, 2:08 am
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> I am presently in the middle of a divorce. In 2005 my
> parents sold land purchased prior to the marriage that was
> held in my brother's and my names.
If you read the above paragraph as if you had no working
knowledge of the situation, I think you'll agree it's a
challenge. I'm going to assume that this is property titled
to you and your brother before you, the inquirer, were
married to the spouse you're now divorcing. How your
parents sold property they didn't own is beyond me.
> I am still filing jointly
> this year. Should the capital gains be paid from these
> proceeds being held separately and will paying it from joint
> assets create a comingling of these gains?
There's no tax issue. Talk to your divorce lawyer.
--
Phil Marti
Clarksburg, MD
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