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Political Discussion
Reply to "HARRY REID-ROMNEY PAID ZERO, NOTHING IN TAXES 10 Years"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]More on the zeroed-out grat: http://www.forbes.com/sites/deborahljacobs/2012/03/07/facebook-billionaires-shifted-more-than-200-million-gift-tax-free/[/quote] This avoids gift taxes but I think you still pay income tax. The trust has to file a return like everyone else and the annuity stream would probably be taxable as well. [/quote] I think the annuity stream may take the character of capital gains though. Not sure about that.[/quote] Annuity streams are income. The gains would have to be taken inside of the trust.[/quote]
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