This question is in regard to taxes that a person must pay when selling mutual fund shares they have inherited. I’m trying to figure out How much tax will I pay if I sell some of my funds inversión.Según the following article, taxes on capital gains applies to the amount that investment is worth when the original owner died. But who are the original owner “here? The investments that have inherited several times, through my father, mother, mother, and I think one of her parents. So who are the original owner “here? If we are talking about the first person to buy, then the total amount on which taxes on capital gains should be very poco.http: / / money. HowStuffWorks. com/personal-finance/personal-income-taxes/capital-gains-tax2. htm
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3 answers
jlf
March 8th, 2010 at 12:17 am
As far as you’re concerned, the “original owner” would be the party you directly inherited them from.
ugiidriver
March 8th, 2010 at 12:43 am
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.
jeff410
March 8th, 2010 at 1:20 am
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.