Quote:
Originally Posted by Peter_Spaeth
She gets a stepped up basis so what they were worth in the 60s is irrelevant. Tax is owed only on any gain from when she inherited them.
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Assuming they were inherited, and not gifted, then you’re right. If they were gifted, then no step up.
Sometimes grandma will start giving stuff away while she’s still around, which is fine from a sentimental perspective but delivers inferior tax results.