FL
I am the personal representative of my dad's very modest estate. He died in Florida. I sold all the stock in his brokerage account after he died to pay the costs of administering and settling his estate. I am preparing his estate tax return and I don't know the basis of the stocks I sold. Does the step-up basis apply to stocks sold by the estate? If not, how do I determine the basis of the stock (many of the securities were originally held in certificates and later deposited into the brokerage account, so the broker would not know the cost basis). For perspective, I'm only talking about less than $30,000 of stocks spread across 5-10 different securities. Thanks for any help you can provide.
I am the personal representative of my dad's very modest estate. He died in Florida. I sold all the stock in his brokerage account after he died to pay the costs of administering and settling his estate. I am preparing his estate tax return and I don't know the basis of the stocks I sold. Does the step-up basis apply to stocks sold by the estate? If not, how do I determine the basis of the stock (many of the securities were originally held in certificates and later deposited into the brokerage account, so the broker would not know the cost basis). For perspective, I'm only talking about less than $30,000 of stocks spread across 5-10 different securities. Thanks for any help you can provide.
