Brokerage Account Question (1 Viewer)

[NutterButter]

Years back while I was working for a financial services company, I opened a scottrade account in my wife's name; not sure if I couldn't just have done it in my name.   I've since been using that account for trading purposes.  I'd like to transfer the entirety of that account to an account in my name.  I never know when my marriage is going to come to an end and I'd like to just have it in my name.  Its fine if its just another scottrade account to keep things simple.   I see there's a form that my wife would fill out for this very purpose.  My questions for those in the know are:

1) Are there any tax implications for making this type of a transfer.  I know I'm up a bit in this account and I'd like to not be surprised with a big tax bill?

2)Are there any red flags that this would raise with IRS or is this pretty routine? 

TIA

 

[Rattle and Hum]

http://fairmark.com/investment-taxation/capital-gain/stocks-and-other-securities/acquiring-stock-spouse/

Perhaps this will help?

 

[NutterButter]

http://fairmark.com/investment-taxation/capital-gain/stocks-and-other-securities/acquiring-stock-spouse/

Perhaps this will help?

So it sounds like there's only tax implications at the time of sale at which point its the same basis as the current basis in the current account.  This would fall under the gift between spouses or the divorce/separation scenarios.  Thanks.

 

[Vanilla Guerrilla]

Start hiding brokerage accounts.