Quote:
Originally Posted by Skid Row Joe
Prolly so.....
RE: appreciated stock - I pity the poor bastids that haven't given any thought to the taxes they're in for on their Berkshire-Hathaway stock owned for 3-4 decades @ age 70.5 IRA-RMDs and whenever they sell some. Better to gift it away if possible. |
Not so much of a problem in an IRA. It's all OI out the door anyway.
As to gifting, I would say it all depends.... on the size of your estate for one thing. As you know, gifting during life transfers the donor's basis; "gifting' at death gets a step up to current value. If H/W's combined assets are less than $10,860,000, holding to death beats the tax man out of gain....forever.
(This is the so-called "trust fund loophole" bantered about recently by Democrats.)
OTOH, back in the 90's, when the stock market was roaring like a Saturn V rocket, I was POA & co-executor for an elderly woman. She had plenty of assets & to save estate taxes, I gifted up to the amount of the unified credit..either 600 or 650k in those days. The top rate, which she fell in was 55% then. Of course, the two heirs, grandsons, went to their own investment advisors, who promptly turned around & sold the stock, then put them in mutual funds. I'm sure they took quite a (two-fold) haircut.
