Legal Question in Wills and Trusts in Florida

Cost Basis of Inherited Stock

I own Stock that is solely in my name. My Will names my wife as my sole beneficiary so she will inherit the Stock upon my death. I believe Florida is a ''Community Property State'' so, when I die, would my wife's cost basis of the Stock for Federal Income Tax purposes be the same as my original purchase price of the stock or would it be the market value of the Stock at the time of her inheritance?


Asked on 6/17/02, 10:37 pm

1 Answer from Attorneys
David Slater David P. Slater, Esq.

Re: Cost Basis of Inherited Stock

Florida is not a community property state and her cost basis is at the time of her inheritance.

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Answered on 6/17/02, 11:47 pm


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