Go to Jeff Salisbury LWGate Home Page.From: jeff.salisbury@xmission.com
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Date: Sat, 25 Mar 2000 06:57:00 -0700
Previous Article (by Author): Re: Dependent care spending account Ravi Sekhar
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Reply-To: <agoodman@seanet.com>
From: "Alice Goodman" <agoodman@seanet.com>
To: <persfin@lists.xmission.com>
Subject: Transfer of assets
Date: Thu, 23 Mar 2000 22:24:18 -0800
Message-ID: <LNBBLODJHIBDNCIAAGGJOEAECDAA.agoodman@seanet.com>
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I have a brokerage account with money in just my name. I am not married to
my partner and we don't plan on it currently. If I open a 2nd account, put
both our names on it, and then journal all the assets from the single owner
account to the joint owner account, will this be a taxable event for my
partner? Would this take away from the $650,000 (I think) limit on Estate
Inheritance? How would this be perceived? IF there are Capital Gains at
the end of the year on this account, do we have to take them 50/50 or can
whoever would benefit most (or least) from them take all of them or none of
them. Does it matter who sourced the original money (I did, or actually my
Mother did) in any of this?
Part II of this.. if I sell a Mutual Fund and buy another in a non-IRA, that
is considered a taxable event for Capital Gains, yes? What if the funds
are in the same family such as Janus WW to Janus Equity, or something like
that. Is there anyway to move between funds in non-IRA accounts and not
have the sale trigger Capital Gains?
Thanks in advance,
Alice
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