Gifting to a spouse from an IRA
Can a husband take a tax-free distribution of $13k from his IRA and gift it to his wife? If so, what forms are needed for this?
Can a husband take a tax-free distribution of $13k from his IRA and gift it to his wife? If so, what forms are needed for this?
Permalink Submitted by Alan - IRA critic on Wed, 2013-02-20 23:23
No. A spouse can take a TAXABLE distribution (if otherwise taxable) from an IRA and gift it to his spouse. There is no limit on gifts between non foreign spouses. The only other way IRA assets can be transferred to a spouse while living would be to file for divorce and get a court order for a non taxable transfer of IRA assets to the former spouse.