But then one last question - where does this "inherited" pile of shares sit in the FIFO pipeline, at the front (oldest) or back (newest)? It's possible you'd go back to the original purchases (with the full number of shares, not just half) and say half is valued at the original purchase and half with the step up.That's what I've always done. My understanding is that the holding period is still the holding period, it isn't affected by death/inheritance. What does change is that all gains/losses on inherited asset sales are treated as long-term regardless of holding period. Years ago my software couldn't handle "Inherited" as an acquisition date, but did provide a long-term/short-term override, so I got into the habit of using the original acquisition date, and applying the override when necessary.Ira
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra