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Author: CABob Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5748  
Subject: Re: Inheriting Stock Date: 12/23/2011 2:30 PM
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My condolances on your family loss.
There seems to be a lot of things going on (or have gone on) with this stock, but, taxes are probably the least of your concerns. Normally a new cost basis is established as of the date of death. So the cost basis for you and your brother would be as of the date of your mother's death. Since this was fairly recent you should not have much of a tax liability if you sold the stock now. In fact you might have a capital loss and could use it to your benefit on taxes.
You should probably get the ownership properly transferred from father to mother to you and brother as soon as possible.
I think it would be preferable to sell the stock before it is transferred into your account so it might be best to sell it from your mother's account. Even if the commissions are higher than desired you might avoid an account transfer fee.
There are a lot of unknowns that might affect this process.

Bob
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