Taxable Interest

[LEH2014]

Hi

I am planning to withdraw 15k from my mutual fund account (all interest earned monies) to give as a gift to my grandson. Will I be taxed on this withdrawal? Can my wife also contribute 15k to our other granchild in the same year? 

thanks 

[IRonMaN]

Hi there,

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

Cheers!

Sorry, that's pretty lame but that's the most polite way to tell you that you landed in the wrong county --------- maybe even the wrong state.

[LEH2014]

I do apologize. I thought it was a support site, I will go to the turbo tax site.

thanks

[IRonMaN]

No problem - good luck!

[abctax55]

Depends.

Maybe.

[Skylane]

I wish more of my clients would ask that question..... and he was pleasant..... so... Don’t take the distribution from a qualified account!