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Level 1
October 30, 2024
Question

Do I have to pay capital gains tax on a gift of stock to a family member

  • October 30, 2024
  • 1 reply
  • 0 views

Do I have to pay a capital gains tax on a gift of "stock" to a family member?

    1 reply

    Level 15
    October 30, 2024

    No, but...

    When the recipient sells the stock, they will pay capital gains based on your cost basis (your purchase price, with adjustments for splits and so on).  So you will be greatly helping the recipient if you give them documents to prove your basis. 

    Level 15
    October 30, 2024