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Unexpected bequest

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A

Angharad

Guest
I live in Delaware.

I have just received a bequest of $100,000: $60,000 in cash and $40,000 in 1,200 shares of stock of a large banking corporation. I've been given a choice to convert the stocks to cash.

I am the sole caretaker of my handicapped mother, and have been for 14 years. As a consequence, I no longer have taxable income or any significant savings or investments. I am, therefore, hesitant to speculate with this windfall.

Would there be any negative tax ramifications if I convert the stocks to cash? Or is the entire $100,000. exempt from tax regardless of what form it is in.

Thank you for your time.
 


abezon

Senior Member
The only tax ramifications would be if you sold the stocks at a profit. I recommend you see a financial advisor who can take your situation & risk tolerance into account.
 

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