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Deductions & credits
@LoveBug71 wrote:
I have no way of knowing how much she paid for them. The dealer at the shop where we sold them, said she maybe paid $3-4 bucks each for the silver coins.
It does not matter how much she paid for them because the value of the coins, being inherited, would be stepped up to their fair market value as of the date of death of your grandmother.
If you sold the coins shortly after she passed, it is likely that your basis was the same as the selling price (i.e., you had no gain on the sale).
‎December 15, 2020
1:11 PM
5,237 Views