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Author: stogie141 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121482  
Subject: qualifying for 8% capital gains rate? Date: 1/5/2001 10:32 PM
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In reading Roy's 1/5/01 column on purchase date qualification for five year holding capital gains rate reduction he does NOT repeat the caveat that stock must be acquired after 1/1/01 to qualify for 8% rate if taxpayer is in 15% tax bracket. Does this mean that if I gift stock I purchased in 1990 to grandchild in 15% bracket grandchild's tax on gain at time of sale will be at the 8% rate rather than 10%?
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Author: mplynch One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 43979 of 121482
Subject: Re: qualifying for 8% capital gains rate? Date: 1/6/2001 12:23 AM
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Yes, it does.


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Author: irasmilo Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 43980 of 121482
Subject: Re: qualifying for 8% capital gains rate? Date: 1/6/2001 2:37 AM
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Maybe not. It depends on how old the grandchild is. If under age 14, your grandchild will be subject to "kiddie tax" rules. Income above a low threshold (including capital gains) is taxed at the parent's rate.

Ira

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