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In Reply to: Holey Cow! Tesla..... posted by JDK on July 1, 2020 at 15:14:14:
much of that value for Tesla (and, heck, maybe many of the others) is paper . I am sure that plenty of those shares were bought at less (far less) than today's - or yesterday's - market price. That's fine, but it isn't real. It's speculative.The corollary thought: those paper gains mean nothing unless the shares are sold or given away. Selling them incurs a substantial capital gains hit. Giving them away is an excellent use of that sort of 'easy come, easy go' wealth. Every dollar becomes real, spendable money for the recipient, and no capital gains tax is incurred by (or to?) the giver. A win-win.
EDIT: Just checked with my tax consultant (Mrs. H) and she confirmed that the giver also gets, within the confines of the tax law, a deduction based on the market price when the stock is "gifted"! win-win-win.
Take your highly appreciated stock and donate to worthy causes. That's what we do.
Just an opinion, of course :)
all the best,
mrh
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- a couple of thoughts - mhardy6647 07/2/2005:12:50 07/2/20 (0)
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