Berkeley CSUA MOTD:Entry 18014
Berkeley CSUA MOTD
 
WIKI | FAQ | Tech FAQ
http://csua.com/feed/
2025/05/24 [General] UID:1000 Activity:popular
5/24    

2000/4/15 [Reference/Tax] UID:18014 Activity:high 75%like:18013
4/14    Okay, here is another wierd tax question. If I give someone stock I
        purchase at, say $2, can I get around paying taxes on it that way?
        I know they will have to pay taxes on the gains, but is this an easy
        way to get around having to pay sort term capital gains tax? The
        current value of the stock is $100.
        \_ you will still be taxed if you give stock as a gift
                \_ Gift tax only applies after $10k/year per person.
        \_ Additionally, you will be taxed extra if you give gifts worth
           more than $10k/year.
        \_ you should just stop being such a ho and pay your taxes.
        \_ How about if we re-phrase thusly:
           I bought shares of a stock in 1999.  The stock pays no dividends.
           The stock increased in value.  The total value of the shares is
           under $10,000.  I gifted all the shares that year to a friend.
           I know I can't deduct any of the gift, and I know there is no
           gift tax for this amount.  Do I have to pay short-term capital
           gains, anyway?  I did not own any of this stock at the end
           of 1999.
           \_ Thanks for clarifying for me, whoever you are.
2025/05/24 [General] UID:1000 Activity:popular
5/24    

You may also be interested in these entries...
2013/9/2-11/7 [Reference/Tax] UID:54736 Activity:nil
9/2     I'm young, and stupid. Does the IRS want reporting on 401K, IRA,
        Roth 401k/IRA? I am decades from retiring, and no plan to withdraw
        anything. But, I just realized that I haven't reported any of my
        retirement plans to IRS for several years, now wondering if I'm
        in big shit...
        \_ The account custodian (bank/brokerage/mutual fund) reports it to
	...
2012/11/5-12/4 [Politics/Domestic/Election, Reference/Tax] UID:54521 Activity:nil
11/5    "Tax Policy Center in Spotlight for Its Romney Study":
        http://www.csua.org/u/y7m (finance.yahoo.com)
        'A small nonpartisan research center operated by professed "geeks" ...
        found, in short, that Mr. Romney could not keep all of the promises he
        had made on individual tax reform ....  It concluded that Mr. Romney's
        plan, on its face, would cut taxes for rich families and raise them
	...
2012/3/5-26 [Reference/Tax] UID:54327 Activity:nil
3/5     My dad is retired and has no income. My income tax bracket is
        pretty high. If I open up a joint high interest CD account with
        him and the INT-1099 comes, is it possible to file it under him
        100% to take advantage of the lower tax?
        \_ IRS says the interest is allocated according to who allocated
           the assets. Do you think it will generate enough interest to
	...
2012/3/7-26 [Reference/Tax] UID:54331 Activity:nil
3/7     "Michigan woman still collecting food stamps after winning $1 million
        lottery"
        http://www.csua.org/u/vp3 (news.yahoo.com)
        `"I feel that it's OK because I mean, I have no income and I have
        bills to pay," she said. "I have two houses."'
        \_ My first reaction was pretty hostile to her, but then, I
	...
2011/4/17-7/30 [Politics/Domestic/California, Reference/Tax] UID:54087 Activity:nil
4/17    http://news.yahoo.com/s/ap/us_no_taxes
        "The super rich pay a lot less taxes than they did a couple of decades
        ago, and nearly half of U.S. households pay no income taxes at all."
        And people are still complaining about taxes being too high.
        \_ yeah but only 3 out of the 5 people who aren't rich but complain
           are actually counted.
	...