Bob Brinker: Market Savant & Radio Host Message Board

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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host

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To: Investor2 who wrote (4117)	3/14/1998 1:32:00 PM
From: Joe Basile	Read Replies (1) of 42834

I2, in addition to your comments to Mr. Spratt. First of all, it would be a good idea for him to counsel with his accountant on the matter. I could be wrong, but I THINK that when you receive a gift (as Jack states), it is not a taxable event unless the amount received as a gift is in excess of $10,000 in any given year. Therefore, if he cashes in 10,000 or less, he would pay no taxes. How capital gains are dealt with in this scenario is a good question. I'll consult my wife (a CPA) on this one to see if she can clarify. Regards, Joe

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