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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: of 121061  
Subject: Re: Stepped up Cost Basis on Death Date: 1/8/2002 2:32 PM
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When death occurs on a sunday, what is the date used for the cost basis of stock? would you use the previous Friday close, Monday open, or otherwise?

I'm pretty sure it's the average of the high and low on the last trading day before death. Unless the stock is very thinly traded ("thinly traded" as in you measure the time between individual trades in days) in which case you would use a weighted average of the trades before and after death.

Hopefully, someone will correct me if I've made an error here.

--Peter
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