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Although it is true that the basis is what the stock is worth on the date
it is inherited, since these stocks were given as UGMA, they have
actually belonged to him since the time the UGMA was established.

So then, are you saying that the basis for this stock is their worth at the point that the UGMA was established, or at the point that they were originally bought? (There's quite a difference there, as the UGMA was established about fifteen years ago, I think, whereas the stock itself was originally purchased more than fifty years ago.)

As for estate taxes... they don't apply. My grandparents are all still alive. This stock was a gift, not an inheritance. And it is worth considerably less than $625000. (I wish...)
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