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If I get stocks as part of an inheritance is that considered income? or only if I take $ like an IRA? I did not sell any in 2016, any dividends were reinvested.same stock
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June 4, 2019
11:10 PM
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Investors & landlords
Stocks received in an inheritance are not taxable until you sell the stocks, then the cost of the stock would be the fair market value on the date of death.
IRA distributions will be taxable income when the money is taken out of the account.
Dividends reinvested are taxable income in the year of the dividend. It does not matter that it was reinvested.
June 4, 2019
11:10 PM