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What cost basis should I use to figure out capital gain for stock which was a gift?
Wiki User
∙ 15y ago
If the fair market value (FMV) of the stock was greater than the donor's adjusted basis at the time of the gift, your basis is the donor's adjusted basis plus any gift taxes paid at the time of the gift. http://www.irs.gov/faqs/faq-kw77.html
Wiki User
∙ 15y ago
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What is cost basis of stock?
The cost basis is the original value of an asset adjusted for stock splits, dividends or capital distributions. It is used to figure capital gain or loss for tax purposes
Is treasury stock the same as capital stock?
Treasury stock is contra of capital stock used by company to purchase own capital stock to reduce the paid in capital.
Is Capital stock asset or liability?
Capital stock is part of liability
What are taxes that are imposed on the total assessed value of the shares of stock in a business called?
Capital Stock (A+)
What is contributed capital?
Capital received from investors for stock, equal to capital stock plus contributed capital. also called contributed capital. also called paid-in capital.
What is cost basis of stock?
The cost basis is the original value of an asset adjusted for stock splits, dividends or capital distributions. It is used to figure capital gain or loss for tax purposes
Is treasury stock the same as capital stock?
Treasury stock is contra of capital stock used by company to purchase own capital stock to reduce the paid in capital.
How do you find the value of a capital stock purchased in 1981?
To obtain the current value of capital stock it should be brought to a finical advisor. The current value is based on the purchase price and the current stock value. It can change daily.
Is Capital stock asset or liability?
Capital stock is part of liability
What cost basis of stock acquired by transfer on death when it is sold?
The cost basis of stock acquired by transfer on death (TOD) when it is sold is typically the fair market value of the stock on the date of the original owner's death. This is known as a "stepped-up" cost basis. This means that any potential capital gains or losses upon the sale of the stock will be calculated based on the value at the time of the original owner's death, rather than their original purchase price.
How do you figure annual sales?
You can figure annual sales in various ways. The easiest way is by adding the opening stock to the purchases. You should them subtract the closing stock for the year and you will get the annual sales.
What are taxes that are imposed on the total assessed value of the shares of stock in a business called?
Capital Stock (A+)
What is contributed capital?
Capital received from investors for stock, equal to capital stock plus contributed capital. also called contributed capital. also called paid-in capital.
What is journal for stock contributed as capital?
[Debit] Stock account xxxx [Credit] Capital xxxx
How much is the capital?
Paid-up capital is the amount of money a company has received from shareholders in exchange for shares of stock. Paid-up capital is only created when a company sells its shares on the primary market directly to investors. That figure is market dependent
Is capital stock the same as common stock?
Yes
What type of account is capital stock?
Capital Stock is an equity account. You may think of equity as ownership.
