- quote -

Not IRAs, 401Ks, 457s, or Savings Bonds. Probably some
others if I thought about it longer.

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waphylz[at]aol.com (WAPHYLZ) wrote:

- quote -

Date of death value (unless the executor used alternate
valuation 6 months later).

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"WAPHYLZ" <waphylz[at]aol.com> wrote:

- quote -

EVERYTHING receives a basis adjustment at someone's death,
including their dog.

--
David M. Woods, EA
Boston, MA 02109

Postings here are general information only and not to be
relied upon as advice.

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I hope I have what is a fairly simple question. I know that
if you inherit individual stocks, the cost basis for the
stock becomes the value on the date of death, so that if the
heir later sells the stock, then capital gains are
calculated from the "date of death" value. Does something
similar happen with mutual funds? For example, if I inherit
a Vanguard mutual fund account from my father, which had a
certain cost basis for him (money originally invested plus
reinvested funds), and I later sell the mutual fund shares,
is my cost basis his cost basis, or is my cost basis for tax
purposes the value of the fund on the date of his death?

Thanks for your help.

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