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Old 07-11-2003, 06:18 PM
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Join Date: Jul 2003
Location: San Jose, CA
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Question

Gift Cash or Stock?

What is the name of your state? California

I want to help my son buy his first house by gifting him either cash or appreciated stock from my IRA account. Taxwise, which is it best to give him? His and my tax brackets are roughly comparable.
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Steve B.
  #2  
Old 07-14-2003, 11:27 AM
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Join Date: Aug 2002
Location: Washington
Posts: 3,484
Cash. I'm not sure you can give him IRA stocks. I think you'd have to sell the stocks within the IRA and take a cash distribution. If you give him IRA funds, those funds are first added to your income, raising your income taxes and maybe incurring a 10% penalty.
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