BK>RW>>Got an inheritance when mom passed last fall. It wasn't a lot,
BK>RW>>but it was in stocks and mutual funds. Down 10% just in the past
BK>RW>>month. If I sell it, I have to pay inheritance taxes on the
BK>RW>>entire inheritance with the diminished amount. If I let it ride,
BK>RW>>it's going to go in the toilet, especially with Obama giving away
BK>RW>>the house. Can't decide whether to sell it or let it ride.

BK> TW> Depending on the Stocks and Funds past records it may be
BK> TW> wise to ride it out.
BK> TW> BUT for sure it isa going to get FAR worse before any
BK> TW> turnarround. Particualrly whan Nancy and her team start
BK> TW> "Punishing" the bigger busineses with more TAXES.

BK> Neigher of you have any idea what you are talking about. He said
BK> it "wasn't a lot". If he sells it, and it's less than $2mill as
BK> of 2008, $3.5mill as of 2009, there is no estate tax.

BK> Capital gains is figured on the cost basis of an asset. If the
BK> asset is inherited, the cost basis is the value at time of death
BK> of the original owner. If his stocks and bonds have lost value
BK> then he has a loss, not a capital gain. If he sells them at the
BK> loss, he has a loss he can offset against gains he may make in
BK> investments this year.

He completely ignores the fact that the money which purchased the asset 
to being with was already taxed.  Typical liberal union democrat, why 
not tax it again ?


Jeff

CMPQwk 1.42-21 9999 
Democrats --  The party of economic obstruction ....

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