Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1
<<Thank you. My oldest son is 20 and in college and the youngest is 15. Both with earned incomes of less than $10k. Youngest about $2k. So they should qualify for the 10% capital gain vs 20% for me?>>

Yup...they sure should. Depending upon their other issues, they'll need taxable income (after personal exemption of about $2,750 and standard deduction of $4,300) of $25,750 before they hit the 28% tax bracket.

If you claim them as dependents, they may lose the benefit of their personal exemption. But it still sounds like you'll get at least SOME benefit of the 10% preferred rate on capital gains if THEY sell the shares instead of you.

TMF Taxes
Roy
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement