The purpose of the original gift was to help him have the resources to pay off large student loans. He has now made the decision to take on higher percentage of that debt himself so wants to 'return vale' to us. Either by gifting shares or simply by selling shares and then, after paying taxes due based on the gain, gift cash to us.
Seems like a sale of the stock and a gift from him of cash should be ok. Is this thinking correct?
