Have a Tax Question? Ask a Tax Expert
Hi & thanks for using our service. I'll do my best to give you a complete & accurate answer. Please ask me to clarify anything you don't understand.
We're on thin ice here & i wouldn't advise that any decisions be made, based upon what the law is now, particularly since it isn't likely to apply.
They heirs wouldn't have any capital gains tax to pay until they sold the stock. They inherited the stock, there was no sale or exchange.
Based upon what we know now, the decedent's basis in theory would "carryover" to the heirs.
Please remember to click on the green "ACCEPT" "ICON", and thanks again for using our service.