the minor's act

USA Discussion in 'Individuals' started by Tish, Dec 6, 2018.

  1. Tish


    Dec 6, 2018
    Likes Received:
    Two years after my father died in 2013, I found a document that indicated that 500 shares of a publicly owned company. Those shares were in my name but he was the custodian under the 'minor's act.' I was then 61 at at the time. The shares were transferred then and I am now about to sell them. How is a cost basis determined? Would it be the price on the day/date when I turned 18 or on the date of my dad's death? Please help! Thank you.
    Tish, Dec 6, 2018
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