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To clarify and add somewhat to the two responses you've already received:

1. Yes, the limit is now $11K per year.

2. Assuming you are married, each of you and your spouse can give your daughter (or anyone else) $11K without restriction, with no tax consequences or filing requirements.

3. As Debra notes, be sure to give your daughter your basis and purchase dates. If/when she sells the stock, she will have to file a Sched D with her tax return, and will need basis/purchase dates to figure capital gain.

4. Again assuming you are married, you can give your daughter $22K directly. That is, it need not be $11K from you and $11K from your spouse; it can be $22K from you alone. In this case (called gift splitting) there is a minimal reporting requirement. You file a one-page form (709-A, Short Form Gift Tax Return) on which the spouse says, essentially, "Yeah, it's ok that we did this." The longer gift return, which uses up some of your unified estate/gift tax credit, is needed only if the aggregate from you and your spouse exceeds $22K.

Lorenzo
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