How much is the capitol gains tax on inherited ibm old stocks 60 &70's?

Question

How much is the capitol gains tax on inherited ibm old stocks 60 &70's?

Answer 1

Cost basis of stock is stepped up on death. It would depend on what the price of IBM was on the date of death. You need to reseach that. Your broker can probably tell you.

Answer 2

1. There is no tax on inheritances.

2. Your cost basis of the stocks is the fair market value at the date of death of the person from whom you inherited the stocks.

3. If you sell stocks at a price higher than your cost basis, then you have a profit. Report it on schedule D.

For more information read: http://taxipay.blogspot.com/2008/02/tax-...

Answer 3

Either 5% or 15% (depending on your tax bracket) on the difference between your "basis" and the amount for which you sell it.

Answer 4

You'd have to narrow down the timeframe, since the stock prices varied quite a bit over the time you mention.

You can find historical prices at Yahoo Finance among many other places.  Don't forget to adjust for stock splits.