The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Gift Stock sale||Date: 9/26/2000 1:39 PM|
|Author: TMFShogun||Number: 40318 of 121061|
Without mentioning any ticker symbols, I'll get right to it:
I'm trying to find information about selling a stock that was purchased for my be my dad one year ago (thanks, Da). The value of the stock has gone down since it was purchased and I want to sell some of my shares.
Since my actual cost basis was $0 (b/c the stock was given to me) am I stuck with a capital gain? or can I count my dad's purchase as my own for capital loss purposes? Am I being clueless?
Pardon the what may be basic questions, but this stuff is still pretty foreign to me, even though I'm a Fool!
Thanks for any insight,
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