This is my first post on the Motley Fool boards, so I apologize if this question has been asked and answered in the past. I recently inherited a large block of stock in a single company and that has caused my asset allocation to change drastically. I need to sell some of the stock in order to reduce risk. My question is: Since I didn't buy the stock, how is the "purchase price" determined? (That is, the price that will be subtracted from the sell price in order to determine the gain.) Is it the price quoted on the date of the stock transfer document? Thanks!
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