The US allows gifts to go untaxed within certain limits. Capital gains can get interesting as well. If you're not certain, talk to your accountant.
On Tue, Jan 24, 2023, 6:48 PM Liz Dodd <ed...@billiau.net> wrote: > On Wed, 25 Jan 2023 10:34:51 +1100 > flywire <flywi...@gmail.com> wrote: > > > I doubt your jurisdiction is that naive. I'd expect you'd pay tax on > > the $25k capital gain on disposal and your son would have a $30k > > basis price. > > > I agree, you gave your son the equivalent of $30K, and you get to pay > tax on the capital gain. > However if your jurisdiction sees it as your son paying the capital > gain, then you gave him $5K in your books. > > Liz > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
