Series 6: 4.3.6. Inherited And Gifted Securities

Taken from our Series 6 Online Guide

4.3.6. 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. When the heir decides to sell the securities, any capital gain will be treated as a long-term capital gain, regardless of how long the security was held.

In contrast, when someone gives securities as a gi

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