my wife an I have been giving gifts ofstock to our close family members. We keepthe gifts under $10K (market value)per person.Questions is... when my brother sells thestock i gave him as a gift, what are his tax liabilities???...I bought the stock 10 years ago andmy basis was $5..when i gave the stockas a gift it was selling at $65. He plansto sell the stock (he held it more than 12 months)at $75. does he owe tax on all of the $75/ shareor $70 (75-5), or $10 ( 75-65)..pls advise
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst