In 2017, Willy gave his son 4,000 shares of ABC stock valued at $10 per share. Two weeks after the gift, ABC declared a $1 per share dividend. Willy also gave his son some municipal bonds the morning of June 30. On July 3, Willy received a check for $400 for the interest on the bonds. Finally, Willy gave his son five coupons from other bonds that he owned. On August 2, the son exchanged the coupons at a bank receiving the $200 interest due on the coupons. What is the son's taxable income from these events?

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4,000 x $1; the interest from the coupon bonds is taxable to Willy.

In 2017, Willy Gave His Son 4,000 Shares of ABC