Transferring shares to another member
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Transferring shares to another member Transferring shares is a gift. If the value is over 14,000 a gift tax return will be required. Linda Sent via the Samsung GALAXY S(R)4, an AT&T 4G LTE smartphone -------- Original message -------- From: mmoriarty@crocker.com Date:11/24/2014 8:41 AM (GMT-05:00) To: club_cafe@bivio.com Cc: Subject: Re: [club_cafe] Transferring shares to another member Sent from my iPhone > On Nov 23, 2014, at 9:04 PM, Billie Dean Morrison <morrison4261@q.com> wrote: > > A member asked me if there is a way for a member to leave > our club and transfer all her shares to another member (her > daughter) ? > Linda said......... << Transferring shares is a gift. If the value is over 14,000 a gift tax return will be required.>> While that is technically true, it doesn't mean that any gift tax will have to be paid. A married person can give $28,000 to someone, and, if the spouse agrees, can consider the gift to be coming one half from each spouse. It is true a gift tax return will have to be filed, but no tax will be assessed. Rip West Saint Paul, MN |
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