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URL:  http://boards.fool.com/you-dont-you-received-the-shares-as-a-gift-you-12027283.aspx

Subject:  Re: sold friend's stock Date:  2/22/2000  4:19 PM
Author:  uhclem Number:  29618 of 126475

You don't. You received the shares as a gift, you acquired your friend's cost basis, you realized the capital gain, you are responsible for paying taxes on the gain. Hopefully your friend will be willing to reimburse you for the tax you pay on it.


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