imjulier Posted December 4, 2014 Report Share Posted December 4, 2014 Hey- Just a quick question. Client will inherit stock from mother that she inherited from her husband when he died. There was estate tax paid at the time. Mother is now below the threshold for estate tax. Does son still get step up in basis for the inherited stock? I think yes but if anyone knows any different, please let me know. Thanks, Julie Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted December 4, 2014 Report Share Posted December 4, 2014 Hey- Just a quick question. Client will inherit stock from mother that she inherited from her husband when he died. There was estate tax paid at the time. Mother is now below the threshold for estate tax. Does son still get step up in basis for the inherited stock? I think yes but if anyone knows any different, please let me know. Thanks, Julie Yes. Stepped up basis. Don't overthink it! 2 Quote Link to comment Share on other sites More sharing options...
michaelmars Posted December 9, 2014 Report Share Posted December 9, 2014 and its long term even if sold on the day he gets it. 3 Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted December 10, 2014 Report Share Posted December 10, 2014 Yes, he's inheriting from Mother, so how she acquired it, and what her basis was, is irrelevant. Only relevant if she gifted it to him while alive. Quote Link to comment Share on other sites More sharing options...
imjulier Posted December 10, 2014 Author Report Share Posted December 10, 2014 Thanks to all for your responses. Confirms what I was thinking but Jack was right, I was over-thinking it. Quote Link to comment Share on other sites More sharing options...
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