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April 4, 2025
Question

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

  • April 4, 2025
  • 1 reply
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If not, how do I remove it?

    1 reply

    April 4, 2025

    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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