How do I calc. stock basis for stock I sold that was transferred to me from a deceased parent's account?

She passed away in 2004 and the stock was discovered in Jan of 2007. The stock was transferred to me and sold withing a few days of the transfer.|||Generally, the cost basis of an inherited stock is the market value of the stock on the date of the individuals death. However, since you did not receive it until 3 years later, there may be other factors involved. If is is a significant amount, you may need professional advice.|||If you want to learn how to find stocks that will double,go to http://blog.360.yahoo.com/blog-AzX_bxggardjZ8PCfsCkI4Y01BSbJvfJIV27|||Your basis is the value of the shares on the day your parent passed away. You can look up old stock prices on websites like www.bigcharts.com. Just be sure to adjust the per-share value back then for any splits or other transactions that have occurred since then.





One other thing, your gain or loss on the sale of the shares will be long-term, even though you only owned the stock for a few days. This is because any inherited property is treated as long-term property.|||Was this stock held in an estate before it was transferred to you? If so, then the estate would have to pay taxes on it before it was transferred to you. Big time. Any assets that are held in an estate are supposed to be transferred the year of the death, depending on the type of estate. But at any rate, your basis is the cost at the time it was transferrred to you. Just be sure about the estate part. There may be some taxes owed there.|||Your basis is the value of the stock on the date of the decedent's death, NOT the date that it was transferred to you.





There are only 2 possible dates that can be used. The first is the date of the decedent's death. The second is a date exactly 6 months after the decedent's death IF the executor of the estate chose that date as the alternate valuation date for estate tax purposes. If the stocks were only recently discovered that would not be the case so you have to use the date of death.|||The basis of the stock is the value on the day it was trasnferred to you. You could probably find a broker who could tell you the value. There will not be much difference between the basis and the selling price because you did not have it long.