Quote:
Originally Posted by CoachKandSportsguy
If the cost is missing from the brokerage account, then you do you best research for the price. Example would be an inherited stock which would have the price of the stock at the date of the death of the individual. Knowing that you can search for the price of the stock on that day, pick the highest of the day.
finance guy
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Or you could pick the Alternate Valuation Day to possibly pay less tax. It would depend on when the price of the stock was lower. You would still need to average the highest and lowest prices of record for the stock on whichever day you chose for valuation.
"The executor will have the option of valuing the estate on the date of death, or alternately, on the six-month anniversary of death – the latter is, fittingly, referred to as the “Alternate Valuation Date.”"
From:
Estate Building Block: Understanding the Alternate Valuation Date