Legal Question in Wills and Trusts in Illinois
stock
dates that can be used in determining cost basis for stock in a trust
DOD and 6 months after?
DOD and anytime in between then & six months after
DOD
Asked on 4/28/08, 5:22 pm
1 Answer from Attorneys
Jeffrey R. Gottlieb
Law Offices of Jeffrey R. Gottlieb, LLC
Re: stock
Not necessarily. Generally, the cost basis is the average between the high and low on the date of death. Alternate valuation can only be used if validly elected on a federal estate tax return and can be elected only if it actually reduces the estate tax bill.
Answered on 4/28/08, 5:41 pm
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