My wife recently inherited a large sum, and used a portion of it to pay off our home. She thinks she has to put the house in her name because it will be considered a gift otherwise. Is this true?
Technically, it is a gift from her to you. But tax wise, it does not matter. Spouses are not subject to the gift tax rules. So, as others have said "spouses can give each other unlimited gifts", without tax consequences. Gifts are not taxable income to the recipient, regardless of relationship.
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