Legal Question in Wills and Trusts in New York

How is cost basis determined when an inherited stock first transfers to decedent's estate then to inheriting estate then to living beneficiary in this case?

If a stock has been transferred from a decedent account to that decedent’s estate account and it must then be transferred to the next estate( which is inheriting from the first estate) is the cost basis on that second transfer the same as when the stock initially transferred from the first decedent to that decedent’s estate (per share value on date of original decedent’s death)? Also, when the stock is transferred yet again to the living beneficiary, is the cost basis for that last transfer still based on the value of the original decedent’s death, or on the value on the date of the death of the second decedent—from whose estate the living beneficiary is inheriting?


Asked on 5/20/18, 11:58 am

1 Answer from Attorneys

Richard Bryan Richard Bryan Attorney PC

That's a great question and some more questions need to be asked about the transaction. That being said I would not provide tax specific advice for free.

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Answered on 5/20/18, 3:22 pm


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