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Author: arnewhouse Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121598  
Subject: capital gains Date: 12/22/1999 8:49 PM
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Subject: Re: tax on capital gains

i recently had to sell a number of stocks from an estate for which i'm the
executor. the stocks had appreciated considerably from the date of death
to time of sale. the stocks were sold to pay the estate tax. does the
estate have to pay capital gains tax on the appreciation in the 1041 to be
filed soon.

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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23619 of 121598
Subject: Re: capital gains Date: 12/23/1999 1:30 PM
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i recently had to sell a number of stocks from an estate for which i'm the
executor. the stocks had appreciated considerably from the date of death
to time of sale. the stocks were sold to pay the estate tax. does the
estate have to pay capital gains tax on the appreciation in the 1041 to be
filed soon.


I trust you are working with an attorney and/or an accountant for this estate. Estate administration is not usually a DIY task. Having said that, and assuming you will check this out with one or both of them, I am pretty sure you have this correct. The estate's income tax return (the 1041) is the most likely place to report the capital gains, although there may be some situation where the heirs would be the ones to report it.

Hope this helps - and is correct! ;-)

--ptheland

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