wuffa wrote:

- quote -

It is a gift and it will be subject to gift tax if the joint
tenant is not a spouse.

--
Alan
http://taxtopics.net

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"wuffa" <magewuffa[at]gmail.com> wrote:

- quote -

Probably, but it depends on where the original $50,000 came
from in the first place. If each paid in half, then turning
over half from one to the other will likely be a taxable
gift. If the person who ends up with it all was the source
of all the funds originally, it will likely not be a taxable
gift.

Stu

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"wuffa" <magewuffa[at]gmail.com> wrote:

- quote -

It depends on whose money it was and who winds up with the
money. If the same, no gift, otherwise, if not married,
taxable gift.

--
Phil Marti
Clarksburg, MD

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If someone has a stock acct thats Joint Tenants with Rights
of Survivorship (JTWROS), and it goes from $50,000 to
$2,000,000 does it make it a gife( and taxed at gife rate)if
one of the persons on the acct signs over it to the other?

thanks

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