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tax basis

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E

ejworks

Guest
If I give my child $10,000 in stock what is their basis if they choose to sell it right away or keep it for a period of time?
 


W

Whaleman72

Guest
The gift recipient takes over the basis of the gift giver. Your kids get your current basis in the stock.

If someone dies, the beneficiary gets the date of death value as cost basis. This is called a step up in basis.
 
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