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inherited stocks

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nottelybill

Member
What is the name of your state? Georgia
when you inherit stocks what day is the basis determined on- day of death, day of receipt,etc?
this stock comes from a trust if that makes a difference.
 


LdiJ

LdiJ

Senior Member
nottelybill said:
What is the name of your state? Georgia
when you inherit stocks what day is the basis determined on- day of death, day of receipt,etc?
this stock comes from a trust if that makes a difference.
Click to expand...
Did the trust transfer the stocks to you, or did the trust liquate the stocks and distribute cash to you? What kind of trust?
 
N

nottelybill

Member
they transferred the stock itself- did not liquidate. It is a living trust that is now in the hands of my sister who is the trustee.
 
FlyingRon

FlyingRon

Senior Member
The basis steps up to the value on the date of the death. It makes no difference if it was in a living trust or personally held by the deceased.
 
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