Personal Investments • How To Gift Shares to a Relative

Guessing you want to be within annual gift tax reporting guidelines?

You mean keep it below the gift tax reporting level? No, I expect it will exceed that.

In that case, check out the wiki page on gift tax. You will likely need to file IRS Form 709, but there typically isn't any tax due by the giver or the recipient. The gist is that it reduces your lifetime exclusion amount.

https://www.bogleheads.org/wiki/Gift_tax

Regards,

Statistics: Posted by retired@50 — Mon Dec 02, 2024 8:38 am — Replies 5 — Views 432

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