By Terry Savage on April 10, 2024 | Investments

I am 80, my daughter 23. Wondering instead of selling my stock in my own account and buying stock in her account, better than just transferring the stocks themselves to her account.

Terry Says

Don’t do ANY of that! I’m assuming you have long term capital gain on those stocks. If you die, owning them, there will be NO tax. If you sell them you would pay a capital gains tax, added to your income. And that could increase your Medicare Part B premium.

And that applies to “transferring” stocks, too!

Why would you even consider this?? My guess is that you’ll need the money from those stocks in the next 15 years. I think you need to talk with a FEE-ONLY Fiduciary financial planner.
Please read this article.

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