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Re: Gifting of Stock

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Posted by Mark on June 06, 2000 at 21:28:01:

In Reply to: Gifting of Stock posted by Bob Doak on June 06, 2000 at 11:17:58:

: I am gifting stock to a family member. What is the best way to record this transaction? Do I use my original basis as the cost or the current price? How do I handle the transactions fees?

: Thanks,

: Bob

Hi Bob,
You could record a sell at your cost basis. Transaction fees could
either be recorded as a commission fee on this sale, or as a separate
"Account Fee". I believe when you gift shares the basis also transfers, but
you should consult a tax advisor on this.

Thanks,
Mark
--
Mark Beiley

Fund Manager for Windows 3.1x/95/98/NT

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