I am in somewhat of a unique situation and hoping someone can help. I recently got married to my lovely wife ~6 months ago. I am not a very showy or flashy person and would have preferred a small, cheap ceremony, but everyone knows how that one goes. The wedding was quite extravagant and ended up costing ~$300,000. The wedding ended up being amazing though the cost of the wedding was a point of contention for months leading up to it and remains a touchy subject. My wife comes from a well off family and paid for almost the entire wedding.
My wife is extremely hands off about money and has no idea how much she has. When I’ve tried to inquire she doesn’t know how to even find out and her family is somewhat secretive about it. My father in law recently told us to be ready for a 10+k tax bill this year so I asked further and found out the wedding was financed by my wife selling off hundreds of thousands of dollars of stock. I had asked her whether we were spending her money or her parents money and she said her parents (she left out or didn’t know it was in her name). What freaked me out is when I asked her how much she sold said she didn’t know, but could be 2 or 300,000 of stock (@15% is 45k, almost half our combined salary)
My in laws previously had encouraged my wife not to even tell me that she even had a trust fund/money in her name which wasn’t exactly difficult for me to get out of her. My FIL wants us to use his accountant to just take care of it, when I asked him how much his accountant would cost he said he’s not sure since he’s never asked. I trust my wife dearly, she has always let her father take care of all her finances, which I just feel extremely uncomfortable doing.
Does anyone know the easiest way to predict capital gains tax? And whether any was withheld? Is there a form I can have her get from her financial advisor? I am obviously way over my head given the complexity and how in the dark I am about her financial situation. Thanks!
Submitted November 03, 2017 at 07:50AM by Thrwawyclueless http://ift.tt/2hBpPpQ
