End-of-year tax strategies Portsmouth Herald News, NH - You realize a capital gain when you sell an investment for more than its "cost basis." If you purchase XYZ stock for $1000 and sell it for $1500, ...
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?ULIPs not for short-term or active investors? Sify, India - Their costs are high and they aren?t as transparent as mutual funds. Those are the charges often levelled against unit- linked insurance plans, ...
Mutual Funds & Personal Finance Investor's Business Daily (subscription) - Dec 5, 2008 Designate shares with lowest basis. That will allow you to avoid more capital gains tax. Ask your broker in advance to provide written confirmation that the ...
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Hartford Sees 2009 Growth In Most Life Insurance Lines CNNMoney.com - Dec 5, 2008 Deposits in its mutual fund business will be in a range of $12 billion to $14 billion in 2009, with net flows of $5.275 billion to $7.275 billion . ...HIG
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Recent News and Articles on the Keywords: mutual + funds + cost Related to the article below (Last Update: 8/4/2008)
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Mutual Fund Flows and Performance in Rational Markets - JB Berk, RC Green - Journal of Political Economy, 2004 - UChicago Press ... will be associated with a larger price impact and ... that have been studied empirically
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Cost basis of inherited mutual funds
Dear Tax Talk, My wife and I own some stocks and mutual funds jointly with right of survivorship. When I die, what will be the basis of these assets? Will they "step up" to the price on the date I die or remain what we paid for them? I know that if I inherit individual stock, the basis "steps up." Great series you write! Thanks! -- George
Dear George, All Georges have great things to say (this is not a political endorsement).
The general rule is that when you die, the basis of your assets for purposes of calculating future gain or loss on their sale becomes the value at the date of your death. The holding period for calculating gain or loss is considered long term for inherited property.
An account held between a husband and wife as joint with right of survivorship is generally considered owned one-half by each. The basis of the inherited half is considered the value on your date of death, so that one-half value is added to your wife's one-half original cost, determined on an asset-by-asset (i.e., each stock or mutual fund) basis.
For example, if your portfolio consisted of 100 shares of IBM with a cost of $1,000 and a value at your death of $1,200, your wife's basis would become $1,100. The $1,100 is calculated by adding your wife's one-half cost of $500 to the one-half value of $600. If the value were $800 at your death, your wife's basis would be $900 ($500 cost plus $400 value).
If your wife transfers her appreciated stock to you within one year of your death, the step-up in basis would be denied if she were to reacquire it at your death.
