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Investors & landlords
If you were the sole beneficiary of the brokerage accounts, and the new accounts were set up only in your name, you will have to report the earnings from the sale of the brokerage assets on your individual return. If you transferred the money to siblings, this is a gift transaction. Gift tax may apply if the amount was greater than $15,000.
If the brokerage was set up through an estate, then the estate would be responsible for the taxes and reporting. The transactions would not appear on your individual income tax return.
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‎February 23, 2020
3:27 PM