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    mkvsail's Avatar
    mkvsail Posts: 1, Reputation: 1
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    #1

    Aug 16, 2010, 12:24 AM
    Cash transfer out of taxable income to wife.what will be tax liability
    Cash transfer out of taxable income. What will be income tax liability?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Aug 16, 2010, 04:23 AM

    Is this about U.S. taxes?
    Transfer or gift of taxable income to anyone does not change your income tax liability that is taxable income remains taxable income.
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