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Mullooly Asset Management, Inc

Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

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The Cost Basis of Inherited Stock

August 11, 2014 by Thomas Mullooly

A lot of investors don’t know what their cost basis is when they inherit stock from someone who’s passed away. Tom put together a short video explaining the answer to this question.

When somebody passes away with stock in their portfolio, the first thing that needs to be calculated is the date of death valuation for each stock. This is done by taking the high and low price from the owner’s date of death. The average price per share is determined from those numbers. The average price per share multiplied by the number of shares owned provides the date of death valuation.

The date of death valuation of inherited stock becomes the new owner’s cost basis. This is referred to as the stepped up cost basis. The cost basis of the original owner is no longer relevant for the inheritor.

Inheriting stock can be confusing for some investors. We recommend that they consult with an investment advisor before making any decisions regarding investments.

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Filed Under: Videos, Asset Management Tagged With: stocks

About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

1971 State Route 34, Suite 102
Wall Township, NJ 07719

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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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