Peter owned dividend paying shares of a public corporation. The shares appreciated in value since the time
Fantastic news! We've Found the answer you've been seeking!
Question:
Peter owned dividend paying shares of a public corporation. The shares appreciated in value since the time Peter purchased them. Peter sells all shares to his daughter Brianna, who is 12 years old, at a price that is less than today’s value of the shares.
A) Discuss the tax consequences.
B) What are the tax consequences if Peter sells shares to Mary, his spouse, at a price that is less than the shares’ market value but more than its cost?
Expert Answer:
A When selling shares to a child who is under the age of 18 years the child enjoys income from the s... View the full answer
Posted Date:
