Stock as a gift

Charles Day cedayiv at gmail.com
Thu Mar 27 20:18:42 EDT 2008


On Thu, Mar 27, 2008 at 5:03 PM, Geoff Catlin <gcatlin at gmail.com> wrote:

> What's the proper way to record stock that is received as a gift? Thanks,
>

I would suggest doing a buy of the stock with payment coming from a Gift
income account. The value should be the basis that would be used to compute
the capital gain/loss if the shares were sold. Depending where you live,
this might be the original purchase price of the shares, the value of the
shares on the day they were given to you, or another value according to your
tax laws.

-Charles

-Geoff
>


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