Looking for some help on the implications of receiving stocks as a gift - I just received 75 shares of GE as a wedding gift. How will I calculate the tax burden for 1997, assuming I don't sell any shares (i.e. will I have to pay tax on the gift as if it were cash). If I am considering selling shares, is there any tax advantage to selling now versus in 12 or 18 months? I assume there would be. I guess what I'm essentially trying to figure out is how to calculate my cost basis. My first instinct is to treat the transaction as a stock purchase made on the date of the share transfer, therefore my purchase cost might be the closing price for that day (this seems way too simple). Thanks,Jack
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