Comments on: If I Give Property That Has Gone Up in Value to My Child And Then My Child Sells It, Who Pays Tax on the Gain? http://www.irstaxsupport.com/if-i-give-property-that-has-gone-up-in-value-to-my-child-and-then-my-child-sells-it-who-pays-tax-on-the-gain/ IRS Tax Resources, Business News, & Personal Finance Information Mon, 14 Jun 2010 07:28:22 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: » If I Give Property That Has Gone Up in Value to My Child And Then My Child Sells It, Who Pays Tax on the Gain? http://www.irstaxsupport.com/if-i-give-property-that-has-gone-up-in-value-to-my-child-and-then-my-child-sells-it-who-pays-tax-on-the-gain/comment-page-1/#comment-174 » If I Give Property That Has Gone Up in Value to My Child And Then My Child Sells It, Who Pays Tax on the Gain? Sat, 10 Jan 2009 02:44:24 +0000 http://www.irstaxsupport.com/?p=363#comment-174 [...] Inverted Umbrellas wrote an interesting post today onHere’s a quick excerpt If your child is age 18 or older, he or she pays tax on the gain.     Assuming your child is in a lower tax bracket, this can be a good thing tax-wise. If the child is under the age of 18, any gain over $1,700 in 2007 is taxed at your rate.     However, if you’ve held the asset longer than one year, the tax on the gain, especially if the gain is large, will probably be the same for you as it would be for your children.     In 2008, the tax will be expanded to include dependents under a [...] [...] Inverted Umbrellas wrote an interesting post today onHere’s a quick excerpt If your child is age 18 or older, he or she pays tax on the gain.     Assuming your child is in a lower tax bracket, this can be a good thing tax-wise. If the child is under the age of 18, any gain over $1,700 in 2007 is taxed at your rate.     However, if you’ve held the asset longer than one year, the tax on the gain, especially if the gain is large, will probably be the same for you as it would be for your children.     In 2008, the tax will be expanded to include dependents under a [...]

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