Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I have stock gifted by a parent. I have assumed the original cost basis of the stock, purchased 14 years ago. If I should sell the stock before one year has passed, will I owe shortterm capital gains tax, even though the cost basis is from 1986? I'd like some Foolish opinions so that I don't just foolishly assume that I can claim it as a longterm investment.

I'm not positive, but it seems like it would have to be taxed as a long term cap gain, considering you are required to assume the 1986 cost basis.

Check out .
You might find an answer there. They also have a helpful message board.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.