2 posts tagged with taxes by retiree.
Displaying 1 through 2 of 2.

Just visiting for tax purposes?

My friend's mother has lived in Florida for over 20 years in a home that she owns outright. Three years ago her mother moved to a different state so she could live in an independent-living facility near her daughter. She kept her house in Florida, she paid all applicable Florida property and income taxes, and she voted absentee in Florida. Her income comes from Social Security, a pension and investments. My question is, should her mother be paying taxes in the state that she is living in now? Also, when she dies, should her estate be managed as though she had lived the last years of her life in Florida?
posted by retiree on Jun 4, 2009 - 5 answers

Cost basis reset...

Suppose that person A buys a stock that then increases in value, and then person A dies leaving everything he or she owns person B. Then under U.S. law the cost basis of the stock for person B is reset to the price at the time of the person A's death. Suppose now that I am the executor of person A's will. Does this tax benefit apply if I sell the stock and distribute the proceeds to person B, or must I transfer the stock to person B?
posted by retiree on Oct 10, 2007 - 4 answers

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