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Subject:  Re: tax free gift (school Ira) Date:  8/30/2001  5:30 PM
Author:  JAFO31 Number:  53719 of 124779

wizardinvestor: "I was looking for a gift to give to a x-girls freind son.

I always gave him things that would fall by the waste side. Now that I am not around him so much I do not know things to get him. Still wanting to get things for his b-day and x-mas, I am turning to the school ira.

One thing I was thinking not only does this help him to save for school. The gift can be a write off for me. (is my thinking right?)"

If this is the son of a former girlfriend (and who is not your son), this is a very generous gift. Your last thought, however, is incorrect. You do not get to write off (deduct) gifts to friends.

Regards, JAFO

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