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?
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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.
and ex marks the spot where those rocks and anvils hit me.