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There should be no tax implications for you even though it is being transferred to a revocable (assuming it is revocable) living trust instead of directly to her because the trust is for her benefit and no gain or loss is recognized on transfers between spouses. Assuming the trust is revocable, then all income and transactions in the trust are reported under your wife's social security number and taxable on her personal income tax return.
See pages 17 - 19 "Transfer between spouses" - http://www.irs.gov/pub/irs-pdf/p504.pdf