http://www.hawked.ca/investments/who-would-be-considered-the-original-owner-of-these-investments Q&A - On All Things Finances Sun, 05 Sep 2010 00:05:14 -0700 http://wordpress.org/?v=3261 hourly 1 http://www.hawked.ca/investments/who-would-be-considered-the-original-owner-of-these-investments/comment-page-1#comment-2757 jeff410 Mon, 08 Mar 2010 01:20:29 +0000 http://www.hawked.ca/investments/who-would-be-considered-the-original-owner-of-these-investments#comment-2757 It doesnt matter. You get a stepped up tax basis when you inherit them. Your cost basis is the value of the shares in the fund on the date the person you inherited the from passed away. All that matters is the person you inherited them from. It doesnt matter. You get a stepped up tax basis when you inherit them. Your cost basis is the value of the shares in the fund on the date the person you inherited the from passed away. All that matters is the person you inherited them from.

]]> http://www.hawked.ca/investments/who-would-be-considered-the-original-owner-of-these-investments/comment-page-1#comment-2756 ugiidriver Mon, 08 Mar 2010 00:43:28 +0000 http://www.hawked.ca/investments/who-would-be-considered-the-original-owner-of-these-investments#comment-2756 The basis for stocks "steps up" to the value on the date of death of the owner. In your case the date that you inherited them. You may not owe much tax, since the market has taken a dump in the last couple of years. You may have a loss if you sell them, which you can use against tax on other income. The basis for stocks “steps up” to the value on the date of death of the owner. In your case the date that you inherited them. You may not owe much tax, since the market has taken a dump in the last couple of years. You may have a loss if you sell them, which you can use against tax on other income.

]]> http://www.hawked.ca/investments/who-would-be-considered-the-original-owner-of-these-investments/comment-page-1#comment-2755 jlf Mon, 08 Mar 2010 00:17:56 +0000 http://www.hawked.ca/investments/who-would-be-considered-the-original-owner-of-these-investments#comment-2755 As far as you're concerned, the "original owner" would be the party you directly inherited them from. As far as you’re concerned, the “original owner” would be the party you directly inherited them from.

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