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Okay, I know that there's probably somebody out there who knows the answer to my question ...

I inherited some stock from my mom's estate after she died. It wasn't transferred into our names for over 2 years. When we transferred it I sold my portion (it was a penny stock -- not worth a ton). Here's my question: I know that I need to claim capital gains on the price differential between when she died and when it was liquidated. She died on Nov. 13. Do I look at the cost of the stock on the 13th or on the 14th, which would have been the first full date after she died?

Thanks everyone!

Laura

I can't imagine there will be enough of a difference between those 2 days to matter - unless the stock market really boomed or dove overnight that night. But as to how to handle it - you might have had to handle it as income the year you received it - just not sure - you need to talk to an accountant and make sure it's done right.

Date of death. (retired CPA) That was an easy one, but don't ask me anymore questions, I'm trying to forget everything I've learned (ha, ha).

thought they did away with capital gains tax a few years ago, maybe I'm thinking of something similar that
they did away with.

Reduced the capital gains tax.