How to transfer stocks? - Tilted Forum Project Discussion Community

khuct · 12-23-2006, 02:39 AM

So my mom accrued 256 shares of Office Depot while working there. She is now no longer with the company, if that is of any relevance. Now, she has a certificate saying that she owns 256 shares of Office Depot stock. How does she go about transferring it to me? Do they tax transfers? And what are some of the advantages and disadvantages of transferring her stocks to my name as opposed to just keeping my money under her name? Those are some of my questions...hope they can be answered. Thanks in advance.

BigBlueWrecking · 12-28-2006, 04:50 PM

If they are in her name and she transfers them to you, depending on the amount you could have a gift tax problem. Also, you would have them based on her basis, so I hope she kept records. Not sure what you are trying to do, so not sure how to answer the advantages question.

BadForm · 12-31-2006, 06:42 PM

To elaborate a bit on BigBlueWrecking's point - she can only give you up to $12K a year tax free - any more and you may have to worry about the gift tax. Given the current value of Office Depot's stock, the 256 shares falls just under that.

As for transferring, talk to either your or her broker. They can set up the transfer. There may be a small fee.

12-23-2006, 02:39 AM	#1 (permalink)
khuct Upright	How to transfer stocks? So my mom accrued 256 shares of Office Depot while working there. She is now no longer with the company, if that is of any relevance. Now, she has a certificate saying that she owns 256 shares of Office Depot stock. How does she go about transferring it to me? Do they tax transfers? And what are some of the advantages and disadvantages of transferring her stocks to my name as opposed to just keeping my money under her name? Those are some of my questions...hope they can be answered. Thanks in advance.

12-28-2006, 04:50 PM	#2 (permalink)
BigBlueWrecking Psycho	If they are in her name and she transfers them to you, depending on the amount you could have a gift tax problem. Also, you would have them based on her basis, so I hope she kept records. Not sure what you are trying to do, so not sure how to answer the advantages question.

12-31-2006, 06:42 PM	#3 (permalink)
BadForm Crazy Location: In an office with no windows	To elaborate a bit on BigBlueWrecking's point - she can only give you up to $12K a year tax free - any more and you may have to worry about the gift tax. Given the current value of Office Depot's stock, the 256 shares falls just under that. As for transferring, talk to either your or her broker. They can set up the transfer. There may be a small fee.