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Level 1
posted Feb 18, 2022 7:10:29 PM

Mmy unfiled return has reported the cost basis for stock bought in 2006, but I inherited the stock owned solely by her when she pasted away in 2010.

it was my wife's stock

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1 Replies
Expert Alumni
Feb 18, 2022 7:26:57 PM

If it was solely your wife's stock, and you inherited it, your basis would be the value on the date of her passing. 

 

NOTE- If the stock was purchased with community funds while you lived in a community property state, you would only step-up half the basis. 

If the stock was her property exclusively, then you step-up the full value to the 2010 value.