Legal Question in Wills and Trusts in Virginia
When inheriting stocks, must tax be paid on the value of the portfolio or the capital gain(if any) at the time of the sale of the stock?
Asked on 10/09/09, 11:45 am
1 Answer from Attorneys
Paul B. Ward
Law Offices of Paul B. Ward
There is no Federal or Virginia tax to be paid by the recipient of an inheritance of stock. If the stock is subsequently sold, the taxable gain or deductible loss would be measured by the value of the stock on the date of death of the person from whose estate it was inherited.
Answered on 10/14/09, 12:00 pm