 Tax question |
| Tax question |
 Mar 2 2008, 03:59 PM
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#1
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 Group: Members Posts: 2,329 Joined: 20-June 07 Member No.: 1,243  |
I know you're taxed on capital gains when selling stock that you buy. But what about stock that you're given?
If you buy XX stock for $1k and you sell it for $2k you pay taxes on gains, which is $1k. But if you're given $1k worth of stock and you sell it for $2k, are you taxed on capital gains ($1k) or what the total value of what you sell it for? ($2k) --------------------   |
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Mar 2 2008, 04:25 PM
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#2
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Group: Admin Posts: 6,906 Joined: 22-February 06 From: Austin Member No.: 9 |
I think you'd have a gift tax on 1k and capital gains on the other 1k. I'm probably wrong, though.
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Oasis Tax question Mar 2 2008, 03:59 PM
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