Inheritance of stocks

[joycemorris]

My husband's mother passed away 2 years ago without a will but left some stock to her son, my husband. How do we go about transferring it to his name and selling the stock? Where do I begin? Thanks,

[Pearlpam]

We also received stock from my father in law after he died and we did NOT have to pay taxes on it. However, you do have to fill out a Schedule D when you file your taxes and under the title Long Term Capital Gains and Losses where it says "Date Aquired" you put "Inherited" and the cost basis starts from the DOD instead of when your mother actually bought the stocks. So if you sold them right away and there was no capital gains (like in our case) you do NOT have to pay any tax on your inheritance.