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Not questioning the settlement per se, but rather if there is something IN the settlement where, for example, his larger share of investments was designated as because she was getting the house. If there is wording specifically stating the house as his reason for getting more investments, that could be a de facto purchase of his part of the house, increasing her basis. TIA to all for answers; I'm just going to tell her she gets to exclude $250k, their joint basis from purchase, plus any major upgrades done while they/she owned the house.

Dad got back to me; situation is different from what I understood from grandfather. BB Yacht Club scholarship (even though check was written by BB Church). Family is NOT members of the Yacht Club. Offered annually to all graduating seniors in the DEHS Band. Essay contest with 3 prizes in the form of a check. My client won 1st place of $5,000. Check was made out to him personally with the memo " A BB Yacht Club Member's Name Scholarship." (Member wanted to support HS music.) No other paperwork. No mention, verbal or written, on a restriction on the use of funds. Knowing this family, though, it was no surprise that they worked the DD Tech to split the funds between 1st and 2nd semesters, applied to student's account via cashier's check. Dad did keep photos documenting all the process, if I need them. I think dad is saying the funds were used for tuition.