Brad owns shares that are publicly traded with an adjusted cost base of $30,000 and a fair
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Brad owns shares that are publicly traded with an adjusted cost base of $30,000 and a fair market value of $56,000, and he owns shares in a CCPC that would be considered a Qualified Small Business Corporation over the last 3 years, these shares are worth $50,000 and have an adjusted cost basis of $10. On August 15, 2020, he dies in a car accident and leaves these shares to his son.
What would be the tax consequences on Brad’s death, if any, with respect to these securities?
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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