quote:
Originally posted by Jim:
C
One instance now allows wealthy folk to avoid limits on how much they can gift to family members. It's complicated but with a knowledgable tax lawyer you can slide hunderds of thousands per year in capital gains to family.
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Again untrue. There is a provision in the gifting rules for anyone that can take advantage of them which allows for accelerated gifting up to a stated maximum. In a 529 college savings plan for instance, a parent can accelerate gifting to a child for a max 6 years which allows them to gift 66000 per kid, per parent, today, without penalty. They cannot do it again next year though.