What tax consequences will I incur by cashing in this stock before year's end?
And does anyone have recommendations for where to put the funds?
jdt1661 wrote: I have about $11K of Janus funds stock my dad started for me when I was a kid
livesoft wrote:So if you sell the thing (stock? mutual fund?) before year end you will have to learn from your parent how much they paid for the shares that he gave you. That can start some of the calculations for your basis.
http://www.irs.gov/publications/p551/ar ... 1000257001To figure the basis of property you receive as a gift, you must know its adjusted basis (defined earlier) to the donor just before it was given to you, its FMV at the time it was given to you, and any gift tax paid on it.
livesoft wrote:There can be no simple answer because you didn't give enough information about why you need to rebalance and whether this is taxable account or not. I wait until an RBD to rebalance and do not rebalance based on a date on the calendar.
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