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From: mcewan@uiucdcs.CS.UIUC.EDU
Newsgroups: net.consumers
Subject: Re: (summary) best approach for sma
Message-ID: <44000028@uiucdcs>
Date: Thu, 21-Nov-85 13:10:00 EST
Article-I.D.: uiucdcs.44000028
Posted: Thu Nov 21 13:10:00 1985
Date-Received: Sat, 23-Nov-85 05:43:44 EST
References: <82@utastro.UUCP>
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Nf-ID: #R:utastro.UUCP:82:uiucdcs:44000028:000:1070
Nf-From: uiucdcs.CS.UIUC.EDU!mcewan    Nov 21 12:10:00 1985


> But if Reagan's tax bill passes, you can kiss this one goodbye until
> your child reaches age 14.  Under that bill, children under 14 will be
> taxed *at their parent's rate* on any unearned income from assets given
> to them by their parents.  This includes income from trusts
> and zeros.  I recently went through all this with my attorney, and there
> was an article in FORBES last summer on the situation.
> 
> BTW anyone else can give to the children, only parents are disallowed.
> If your own parents are well off, and are considering helping out with
> the children's college education, they can give the children zeros and
> there won't be a problem.

Is there anything to prevent 2 couples from getting together and each putting
in money for the other couple's children?

			Scott McEwan
			{ihnp4,pur-ee}!uiucdcs!mcewan

"A flash in front of my eyes ... I blink ... open my eyes to ... discover I am
 a dog in a pickup truck full of garbage ... no one but me sees the lid blow
 off the can ... it's 14 miles to the dump ... this is ... at last ... heaven."