If I elect to take a parcel of shares as my inheritance and the other inheritors take cash, is my cost base the amount aportioned in the estate to them. i.e estate divided equally between 2 people, 1 takes cash the other shares, is the cost base equal to the cash amount of the other persons share. The value of the shares would be calculated as closing price times number of shares.
If I elect to take a parcel of shares as my inheritance and the other inheritors take cash, is my cost base the amount apportioned in the estate to them.
No, your cost base is the cost base of the deceased if shares acquired by deceased post CGT, or market value at date of death is share are pre CGT.
How you value the shares for division of the estate does not change this.
If I elect to take a parcel of shares as my inheritance and the other inheritors take cash, is my cost base the amount apportioned in the estate to them.
No, your cost base is the cost base of the deceased if shares acquired by deceased post CGT, or market value at date of death is share are pre CGT.
How you value the shares for division of the estate does not change this.
Ok, shares in the estate are valued at market price, so if shares are transferred to an inheritor then they are effectively buying them at this price. The tax treatment seems to be at odds to all other transfers of shares that occur. So, anyone who elects to take shares instead of cash will lose out big time. I am assumimg of course the shares have made a capital gain.
How long can the executor take to sell off shares, the other alternative to transferring them?
22 Apr 2024 · 6 min read time
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