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Get your taxes done using TurboTax
You will pay tax on the capital gains; however, if your return has not be completed in full, your final tax due amount may not be reflected in the information you currently have available. Do you have any capital losses? Capital losses will offset the capital gains.
Moreover, if your spouse inherited the stocks, then your spouse gets a "stepped up basis." Let us know if the stocks in question were inherited as a stepped up basis would apply in that situation. A stepped up basis could result in a smaller capital gain.
@Matt 126
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‎January 30, 2023
11:38 AM