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JABber842
New Member

FINAL 1041 FORM to be filed. Filed FIRST 1041 tax in April 2022.

Filed FIRST 1041 tax in April 2022. Losses on home sale so no tax due. Used Turbo Tax 1041 software. Losses on home sale. Probate completed June 2022. Stock investment gain. Is stock gain based on day of death stock value?

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tagteam
Level 15

FINAL 1041 FORM to be filed. Filed FIRST 1041 tax in April 2022.


@JABber842 wrote:

Is stock gain based on day of death stock value?


The basis of the shares would typically be the date of death value (provided the shares were included in the gross estate).

 

Take the high and low for the shares on the date of death and divide by two to arrive at the fair market value.

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tagteam
Level 15

FINAL 1041 FORM to be filed. Filed FIRST 1041 tax in April 2022.


@JABber842 wrote:

Is stock gain based on day of death stock value?


The basis of the shares would typically be the date of death value (provided the shares were included in the gross estate).

 

Take the high and low for the shares on the date of death and divide by two to arrive at the fair market value.

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