I have a follow-up question. Also, due to divorce, my husband must transfer an IRA and stocks to me. I know the IRA is good for a rollover into my current account or creating a new account. My question is regarding the stocks, if he transfers them to me in November of 2024, will I;
1. Will I have to pay taxes on them for capital gains for the entire year of 2024 when I file in 2025? Or if I keep the stock for a year and then trade it for others, would that be when I have to pay the taxes?
Exhausted and need to have a good understanding of what to expect or how to minimize. Thank you.
