Margaret CPA in OH Posted March 16, 2021 Report Share Posted March 16, 2021 A client was gifted 49 shares of stock on retirement several years ago. Is her basis (she sold last year) the market price at that date? Seems a bit odd as the 'donor's' basis would not be the current share price, would it? Happy to use that as basis. I've often managed stock gifts among family and friends but not as a retirement gift from a company. Quote Link to comment Share on other sites More sharing options...
Lee B Posted March 16, 2021 Report Share Posted March 16, 2021 It was taxable income at the gift date reportable as W 2 Wages. Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted March 16, 2021 Author Report Share Posted March 16, 2021 Okay, I will ask if she recalls seeing that on her pay. It was in 2012. If she doesn't recall, is it safe to assume that it was included? The value is about $3400. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.