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Financial Planning / Tax Strategies


Subject:  Gift Stock sale Date:  9/26/2000  1:39 PM
Author:  TMFShogun Number:  40318 of 127616


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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