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Financial Planning / Tax Strategies


Subject:  Re: how to split a joint account Date:  3/13/2014  11:46 AM
Author:  vkg Number:  120441 of 132526

Why am I determining the cost basis of the stock? Is that 14k of current value or of original cost basis? Don't see where that fits in. I wasn't thinking about 'stepped up cost basis' - I knew that didn't apply.

You said your mother gave you $24K, and it is invested in various stocks. If that was $24K in cash, then it is close to the cost basis of all of the stocks.

It doesn't tell your sister the cost basis of the individual stocks. You should give your sister statements showing the purchase of the shares.

Were any dividends reinvested? Your sister will also need the cost basis of any shares bought with reinvested dividends.
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