Editing Finance (section)

=== P2P funding ===
Gifts within the [https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes annual or lifetime exclusion limit] are not taxable. If you would be put in a higher tax bracket than your recipient would be put in, less taxes would need be paid total if you gift the recipient the asset (such as stocks or crypto) and they sell it immediately, than if you sell it and gift them the returns. Make sure to compensate for the taxes they will need to pay when converting to stock, since they will inherit your [https://ttlc.intuit.com/turbotax-support/en-us/help-article/investment-income/determine-cost-basis-stock-received-gift/L4bZeNvpc_US_en_US cost basis].