estate capital gains
Last week you addressed the estate transfer of stock ( assuming significant capitals gains) to heirs rather than selling it before hand knowing the demise.
Is it in reverse if there are capital losses? sell before demise.
Terry Says
Capital losses have limited deductibility against ordinary income. If you have both gains and losses in the same year, you can offset them. But if your capital losses exceed your gains, you can only deduct $3,000 of losses against ordinary income in one year! (That limit hasn’t changed in forever!)
See your estate planning attorney for specifics on dealing with your own tax issues.
