No. of Recommendations: 0
Author: rbewing Date: 12/11/00 12:23 PM Number: 26534
My father-in-law has about $120,000 in communications stock (SBC,AT&T,etc) that he recieved while he was a Bell employee. He is now retired and at 85 is wondering how to use the money without losing it to taxes. He said he only paid $400 in Federal Income Taxes last year, so he is in a low tax situation. What are his options for using his stock for income with out paying alot of taxes? In advance, any advice is appreciated.

The way I read this, your father-in-law needs income from this stock. If that is the case, and since this stock is highly appreciated, probably the best thing to do is sell a few shares, as necessary, to meet his income needs. The income taxes will be on long term capital gains, and will be very low, probably 10% based on his low income situation.

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