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Date:   Tue, 28 Jun 2005
From:   Tim

Dear sir,

I have a one-half (formerly community property) interest in 53 shares of Xerox stock. My ex-wife owns the other half. The title is still in both our names. How can we get the stock in a saleable state?

Answer

Date:   Wed, 06 Jul 2005

Hello Tim,

If you want to sell the stock anyway, see a stock broker. Maybe you can just sell it and divide the proceeds. If the sale proceeds are reported under your social security number, file a Form 1099B to show one-half of the sale proceeds are taxable to your ex-wife.

Good luck!

Mike Gray

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IRS Circular 230 Disclosure: As required by U.S. Treasury Regulations, you are hereby advised that any written tax advice contained in this answer was not written or intended to be used (and cannot be used) by any taxpayer for the purpose of avoiding penalties that may be imposed under the U.S. Internal Revenue Code.