Step up in Cost Basis on Inherited Shares. Series 65 Exam and Series 66 Exam.

[@Series7Guru]

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[@bridgettejohnson2086]

Thank you. These really help me.😊

[@Series7Guru]

Glad you found it helpful. It is very testable to be able to distinguish between cost basis of shares inherited and shares gifted. It is also very testable to be able to compare and contrast open end and closed end funds.

[@frankcastro9308]

Wouldn't the step up basis be at the NAV of $9.50? Even though it's a closed fund the transfer doesn't actually involve a sale?

[@Series7Guru]

No.