Understood that my tax basis is now $15 as the beneficiary of the stock. But I have to believe the IRS would not simply let that $5 in capital gain go un-taxed. Yet I see nothing on the tax forms that allow me to enter that "gain".
No she does not owe anything on the stock as it was not sold prior to date of death, nor was it sold by her estate.
The stock is only shown on an income tax return when sold.
If you inherited it, you received the stepped up basis of the $15, and it would go on your return when and if it sold, with that cost basis.
No she does not owe anything on the stock as it was not sold prior to date of death, nor was it sold by her estate.
The stock is only shown on an income tax return when sold.
If you inherited it, you received the stepped up basis of the $15, and it would go on your return when and if it sold, with that cost basis.