[GNC] Gift of stock

[David Carlson]

The US allows gifts to go untaxed within certain limits.   Capital gains
can get interesting as well.  If you're not certain,  talk to your
accountant.

On Tue, Jan 24, 2023, 6:48 PM Liz Dodd <edodd at billiau.net> wrote:

> On Wed, 25 Jan 2023 10:34:51 +1100
> flywire <flywire0 at gmail.com> wrote:
>
> > I doubt your jurisdiction is that naive. I'd expect you'd pay tax on
> > the $25k capital gain on disposal and your son would have a $30k
> > basis price.
>
>
> I agree, you gave your son the equivalent of $30K, and you get to pay
> tax on the capital gain.
> However if your jurisdiction sees it as your son paying the capital
> gain, then you gave him $5K in your books.
>
> Liz
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