Phil:Thanks for your reply. Let me see if I can clarify the strategy and remain within the bounds of legal tax avoidance (as opposed to tax fraud).I have an infant. I create an UGMA account for the infant. I make a gift of X shares of stock (value below $10K) to the infant. I sell some (or all) of those shares. The capital gain from the sale (using my original basis) is less than $700. Result: gain is not taxed by feds.Obviously, this is a small amount of money, but any tax I can legally avoid helps pay for diapers and formula.Is this strategy sound?Thanks again for your advice!Jon
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