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I would also note that if his basis in the gifted stocks was more than the gift tax limit in the year that your brother gifted you the stocks, he should have filed a gift tax return. And if the amount that you plan on giving your niece is more than $15,000, you will need to file a gift tax return.

Gift tax is based on the value of the gift, not its basis. If the value of the stock was more than $15,000 (and perhaps less if the gift was long enough ago), a gift tax return was due.

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