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Get your taxes done using TurboTax
The cost basis of the stock is your cost basis at the time of the gift. You don’t report the gift now, you should have reported it on form 709 when you made the gift if the value exceeded the annual exclusion amount. After entering the trade look at Sch D to see how it was handled and at the capital gains worksheet to see how it was taxed.
March 1, 2023
7:59 PM