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INReview INReview > The Scuttlebutt Lounge > Politics & Government > Taxes > Death of a spouce -- stepped up basis on 1099?
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mkos
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Death of a spouce -- stepped up basis on 1099? post #1  quote:



My parents had joint accounts within their brokerage firms. When my father passed away (2002), we gave the brokerage a death certificate and they put the accounts solely in my mother's name. When we get the 1099's, is half of the cost-basis information automatically "stepped-up" to ther point of my father's death, or do I have to calculate it manually.

I appreciate any assistance.


Old Post 02-29-2004 01:12 AM
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Ken NJ
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Depends On What's Inside The 1099 post #2  quote:

Allocate the days both while living, divided by two or the number of co-account holders whichever is greater. Post-mortem portion all to the surviving spouse as to earnings.

Old Post 02-29-2004 11:23 AM
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