Account for future taxes when there is a transfer of shares in the family business as part of a divorce settlement. There are no tax consequences when stock in a closely held company is transferred from one spouse to the other as part of a divorce settlement. However, the person receiving the shares takes the same tax cost (basis) as the person transferring them, along with any built-in capital gains. The recipient must pay tax on those gains when the shares are sold. For purposes of an equitable settlement, figure in those taxes when valuing the shares.