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Archive for February 2012

Tips For Solving The Cost-Basis Mystery

That old gift of stock from a parent or Uncle Jerry can create a tax headache when the time comes to sell it. Capital gains tax due when someone sells a gift of stock is generally based on what the original owner paid for the shares, as well as events such as mergers, spinoffs and stock splits that occurred at the company in the years since. That original basis, though, is often lost. Read more