Is It Deductible? The Tax Rules Around The Dells' $6.25 Billion Contribution To Trump Accounts [Forbes]
Dell Technologies Inc. Class C (DELL)
Last dell technologies inc. class c earnings: 2/27 04:25 pm
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Source: Forbes
Here's what you need to know about private foundations, government gifts and the tax consequences. Earlier this month, Michael and Susan Dell made one of the largest philanthropic commitments in modern U.S. history, pledging $6.25 billion to support “Trump Accounts” –those new accounts for children created by the One Big Beautiful Bill Act (OBBBA). As part of that law, Congress committed to seeding accounts for babies born between 2025 and 2028 with an initial $1,000 deposit. The Dells' billions will seed with $250 each the accounts of roughly 25 million children under age 10, who were born before 2025, and thus aren't eligible for the $1,000. If not enough families of children under 10 open the accounts, any money that remains of the $6.25 billion could go to older children, according to a statement the couple posted online . To be eligible, children must live in zip codes where the median household income is below $150,000 The gift raised some questions, especially given the siz
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