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The basis and holding period are from when she bought them, though the limit of $10k to have gifts
not taxed is from when you are given the gift. You didn't give all the info, but lets say she bought
them at $40.share over a year ago. Then if you sold at $50 you would have your "profit" of $1800
taxed as long term capital gains....20% if you aren't in the 15% tax bracket.

What if she bought them the day before they were gifted? Then am I in the "Short Term Gains" boat since they would be held under a year if I sold now.
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