Hi. My wife recently sold her farm for 1.2M$. From an income tax perspective can she gift me $600,000 so I can invest it myself & personally pay any future Cap Gains tax?

bill-eckford · ‎October 30, 2019

I am retired, I have no income, my wife is still working. We want to split the money from the sale of the farm 50/50 so that she doesn't have to include all the future earnings (dividends etc) with her earned income.

Hi. My wife recently sold her farm for 1.2M$. From an income tax perspective can she gift me $600,000 so I can invest it myself &amp; personally pay any future Cap Gains tax?

Hi. My wife recently sold her farm for 1.2M$. From an income tax perspective can she gift me $600,000 so I can invest it myself & personally pay any future Cap Gains tax?