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Ask R. Greg Paszkiewicz Your Own Question
R. Greg Paszkiewicz
R. Greg Paszkiewicz, Enrolled Agent
Category: Tax
Satisfied Customers: 357
Experience:  9 years preparing tax returns - Marietta, GA
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Tax Question Regarding Stock Certificates

Customer Question

My mother recently passed and I acquired a stock certificate for a approximately 1,000 stocks. I was told there is a certain time frame that is best to sell the stocks because of IRS issues. Because of financial issues I do need to sell them, so can anybody help me in finding out when is the best time to dispose of the stocks would be?
Submitted: 11 years ago.
Category: Tax
Expert:  R. Greg Paszkiewicz replied 11 years ago.
It is doubtful that there is much tax due on the sale of stock unless it has appreciated substantially since you received the shares. Your basis in the stock is its value at her death and your "purchase date" is hers, so assuming it has been more than a year since she originally purchased the shares any sale will be long term (the lowest tax rate). The gain will only be the appreciation since you inherited the stock which should be comparatively little. If the gain under these circumstances is still substantial you will need to look at the rest of your tax situation to determine when selling is most beneficial.

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