My daughter received stock as a gift from her grandmother. She sold the stock. Does she have to pay tax on it?

If not, how do I remove it?

posted

Yes. It is a taxable event.

The cost basis of stock received as a gift ("gifted stock") is determined by the giver's original cost basis and the fair market value (FMV) of the stock at the time it was received.

How do I determine the cost basis of stock I received as a gift?

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I noticed that I didn't receive any of the Recovery Rebate Credits for all rounds starting 2021, Will I be receiving this or do I have to file something?

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My daughter received stock as a gift from her grandmother. She sold the stock. Does she have to pay tax on it?

My daughter received stock as a gift from her grandmother. She sold the stock. Does she have to pay tax on it?

How do I determine the cost basis of stock I received as a gift?

Unlock tailored help options in your account.

Get more help

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My daughter received stock as a gift from her grandmother. She sold the stock. Does she have to pay tax on it?

Do you have an Intuit account?

My daughter received stock as a gift from her grandmother. She sold the stock. Does she have to pay tax on it?

How do I determine the cost basis of stock I received as a gift?

Unlock tailored help options in your account.

Get more help

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