BSCH4477,
No, its more complicated. My sister bought the stock(example: 1000 sh ABC) for $30 a share and had it in her brokerage acct. When she died, the price of the stock had dropped to $17. The brokerage house then transferred the entire account to me as the beneficiary. The value of the stock to me was $17. Since that transfer, the stock has risen back to $30, a capital gain of $13000 if I were to sell it. How can there be a capital gain if the sock was purchased for $30 and later sold for $30. Should I be able to take a captital loss of $13000 on my sisters 2020 income tax if I have to pay $13000 on my income tax when I sell. Did that make more clear of more confusing?
