Put Stock in Their Stockings By John Cunniff AP
New York AP reports the New York Stock Exchange urges member firms to promote Christmas stock gifts for minors and employees. The piece notes rising gift investing, including U S Savings Bonds, stocks, and even small plots of land in England, with sales cards and legal flexibility boosting minor ownership to about 1.5 million.
MENTIONED IN THIS ARTICLE
John Cunniff
NEW York (Ap
New York Stock Exchange
Exchange
U.S
Gift tax facts for parents and children in 1967 rules
The Garden City Telegram notes that gifts up to 3000 are exempt from the donor gift tax and that parents can transfer 6000 to children without tax. It states that the recipient child pays income tax on dividends and capital gains from the gift, with the first 600 of profit excluded and the parent retaining the child as an exemption.
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