Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: SMALL FRY who wrote (52439)	7/23/1999 3:07:00 PM
From: aliveinsf	Read Replies (1) of 120523

SF...I am a CPA, but don't practice...but I have UGMA's (had) for my kids and you can make a gift to them and the basis is transferred to the giftee....you may make a gift of 10k and your wife may make a gift of 10k to each child without paying gift taxes....(each child then gets 20K in value each year with no gift tax) the 10k is based on value at date of transfer and not basis..for eg...you gift stock valued at 10K with a cost of 3k....your gift of 10k is without gift tax...and the basis of the stock in the minors ugma is 3k...so when the child sells, assuming a price of 14k, they will have a LT gain (if you have owned it for the statutory period) of 11k... if they are in the 15% tax bracket, you don't even care about cap gains....trade in the ugma until they surpass the 15% tax bracket...once money is transferred into an ugma, it is legally the childs and at 18 it is theirs to do with as they wish....regardless of how you want them to spend the money...parental influence and instilled values notwithstanding.....

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