What’s my cost basis ? :Inherited vs Gifted stock

[@andrewloonstyn2260]

Passed my Series 7 today! Your videos were a majority of the reason why I succeeded!

[@Series7Exam]

Congrats !!!

[@Series7Exam]

And thank you

[@Thuuunderous_Wizard]

The things you do for us! Love thE visual. 😂

[@Series7Exam]

Haha

[@mjshaub]

That acting deserves an Oscar. Another great video Ken, you make this studying entertaining.

[@mandyhill8754]

Too funny! Awesome video Ken

[@Series7Exam]

Giving up my body to help you guys pass

[@cindysu2994]

Love this, can you act out options please, lol.

[@TheK9Shepherd]

Question about inheriting stocks and the cost basis. My wife's brother passed away in 2022. He had a single stock with a brokerage and she was the sole beneficiary (100%). Now, I understand that the cost basis is what the stock was on the date of his death. My question is if she didn't get legal control of that stock until 3 months later until 2023, why can't that be the cost basis of the stock? We had to go through paperwork and had difficulty getting a hold of someone at the brokerage. So she never got legal control of that stock until 3 months later (when she actually took possession) Now as you can probably sermise, it benefits us to have the cost basis when we received the control of the stock 3 months later because it increased in value. So when we sold in 2023, the delta was .75 cents per share. As opposed to a delta of $2.50 per share based on the date of his death. So is is possible to articulate that our cost basis was 3 months later as opposed to the date of his death? Thanks

[@Series7Exam]

It’s usually date of death or (I think ) up to 6 months later so that would help you

[@emilyreimer2072]

I already know this but had to click on it because of the cover of the video.. lol

[@Series7Exam]

Thanks!&