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Just how do taxes connect with an inherited share?
I live in Virginia. Recently we dropped a family member.
This person experienced a share purchase and it had
been directed at us via her will. I ve never owned stocks before.
I don t understand how this functions. I am
aware that if i sell the share and take the money, then of course i
must pay taxes onto it. But what if i leave the stock…
show more You pay taxes on any earnings (dividends) that the stock
earns. Other than that you only pay out when you
sell. You pay taxes on the difference between your sales cost and
the basis. In this situation, the basis may be the worth of
the stock on the day of your loved ones member’s death.
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