uhclem: "You don't. You received the shares as a gift, you acquired your friend's cost basis, you realized the capital gain, you are responsible for paying taxes on the gain. Hopefully your friend will be willing to reimburse you for the tax you pay on it."This response does not sound correct to me, but I am no expert. The original post sounded more like a nominee situtation rather than a gift, but I do not know enough tax law to comment there either.I hope some of the other resident pros will weigh in on this issue, if they have not already done so. (posted before reading all responses)Regards, JAFO
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