Tax Counsel, I appreciate the responses/information! Just some follow-up clarifications.
Here you are saying that initially if the percentage for the sibling that did not contribute anything is equivalent to over $15,000, then the other sibling(s) that "gifted" the amount would have to pay...
I've been researching the idea of starting an LLC to pool together assets (currently just securities, but hopefully rental property in the future) between my siblings and I, but have run into a few legal questions:
1) Can the initial capital contributions into the LLC's brokerage account be...