Here's the question:
Client gets inheritance from a lady who was the beneficiary of over 30 years of the uncle who left the proceeds to relatives upon the death of this bene.
Shouldn't the cost basis be the date of death of the beneficiary who has been using the trust proceeds these past 30+ years?
Client gets inheritance from a lady who was the beneficiary of over 30 years of the uncle who left the proceeds to relatives upon the death of this bene.
Shouldn't the cost basis be the date of death of the beneficiary who has been using the trust proceeds these past 30+ years?
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