Series 7: 4.6. Inherited And Gifted Securities

Taken from our Series 7 Online Guide

4.6. Inherited and Gifted Securities

When someone inherits securities, the heir’s cost basis will be the fair market value (FMV) on the date of death. This new cost basis is sometimes called a stepped-up cost basis because if the securities have been held for a long time, it can result in a substantial increase in cost basis (and a substantial tax savings). Furthermore, whenever the hei

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