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Jinpa asked..

<<My parents have blessed me with gifts of stock this year that have a current market value of $9k. I don't have an existing IRA, but I'd like to put them into a Roth. Will I be limited to $2k/annually or can I "rollover" the entire amount at one time?>>

My question concerns the stock basis. On a gift to an individual, is the value of the stock the stepped up basis as it is in an inheritance and as charity contribution or is it the original purchase price of the stock?

BGP
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