The fact that gifted securities carry *your* basis can make a huge difference depending on the securities and circumstances.
Personally, for example, I own some very old securities held in my name only. They have considerable value today but the basis is close to zero so if they are sold or transferred to my spouse the capital gains tax will be very high when sold, but if inherited the tax will be next to nothing. (I have no intention to ever sell the securities during my lifetime so is makes sense to keep them in my name only).
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
