Mr. Bailey would like to gift $515,000 (FMV) of appreciated property (basis $200,000) to his son. Mr. Bailey doesn't want to use his liquid assets to pay the gift tax (40%). He already has gifted $11,400,000. What would you suggest?
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Home » Business » Mr. Bailey would like to gift $515,000 (FMV) of appreciated property (basis $200,000) to his son. Mr. Bailey doesn't want to use his liquid assets to pay the gift tax (40%). He already has gifted $11,400,000. What would you suggest?