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The cost basis of stock that's inherited is, most commonly, that stock's fair market value at the date of death. (There's an alternate valuation date 6 months after the date of death but the executor of the estate should have reported that to you if that's what was used.)
Your subsequent sale of this stock is considered "long term" irrespective of how long you or the decedent actually owned the stock.
Tom Young
The cost basis of stock that's inherited is, most commonly, that stock's fair market value at the date of death. (There's an alternate valuation date 6 months after the date of death but the executor of the estate should have reported that to you if that's what was used.)
Your subsequent sale of this stock is considered "long term" irrespective of how long you or the decedent actually owned the stock.
Tom Young
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