Suppose I gift $10,000 worth of stock that has appreciated greatly. I give this to a close friend/relative who is in a lower tax bracket. When they sell the stock they pay 10% capital gains. (Compared to the 20% I would have had to pay.) They in turn gift the cash back to me after taking out money needed to pay their capital gains. I thus save $1000 in taxes. No, this is not legal.
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 Ra