Quote:
Originally Posted by jhynesrockmtn
She should really be visiting with an estate lawyer or CPA. My license lapsed many years ago. I believe the basis goes back to the date the person who gifted her the assets passed but that may be impacted by whether they were held in a trust. I don't believe there is any way to avoid taxes when sold. Stocks are not treated like real estate for like kind exchanges which can be used to defer taxes.
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She is in discussion with her financial advisor who she trusts, but as they say, "Trust, but verify..."
She's just looking for more input. And she knows that taxes have to be paid on the stocks, but she wasn't clear on where the starting point is.
Thanks for the input guys. Very useful, and will help her ask the right questions, and make the right decisions.