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#1
02-07-2005, 10:23 AM
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Unclaimed funds receivedWhat is the name of your state? Connecticut I received funds last year from the state of New York which were originally from my Grandfather who died over 30 years ago. This week, the state comptrollers office sent me a 1099-B for the amount received which came from the sale of a mutual fund. My question is: how do I report this on my taxes? The amount is under $7000 and I expect it should be treated as an inheritance. Do I enter it as a sale of a mutual fund with the purchase price the same as the sale price? Thanks. Reply With Quote |
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#2
02-08-2005, 06:57 AM
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| The basis is the value of the stock on the date of your Grandfather's death. A good brokerage house should be able to direct you to the proper information if you give them the CUSIP number and the date of death. Snipes
__________________ This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post. |
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