How am I Taxed on Non-IRA Stock I Inherited?

<p class="MsoNoSpacing">Today we’re going to talk about how to handle the taxation on stock that isn’t in an IRA and gets inherited. For example, let’s say someone bought 100 shares of Apple stock in 1987 and they leave it to their kids when they pass away. How are you taxed on this stock? To help us answer the question, we’ve brought on Jake Doser, a financial advisor at Johnson Brunetti.</p> <p class="MsoNoSpacing"> </p> <p class="MsoNoSpacing"><strong>Here’s some of what we discuss in this episode:</strong></p> <ul> <li class="MsoNoSpacing">How the step-up in basis works.</li> <li class="MsoNoSpacing">The difference in proactive and reactive management.</li> <li class="MsoNoSpacing">A few considerations to make in regards to taxes during income planning.</li> <li class="MsoNoSpacing">How the brokerage account fits into the income plan for retirees.</li> <li class="MsoNoSpacing">Why you don’t want to create a joint account with your child.</li> </ul> <p> </p> <p><strong>Check out our other free financial resources here:</strong> <a href= "https://johnsonbrunetti.com/financial-resources/">https://johnsonbrunetti.com/financial-resources/</a></p> <p><strong>Contact our team:</strong> <a href= "https://johnsonbrunetti.com/contact-us/">https://johnsonbrunetti.com/contact-us/</a> </p> <p> </p> <p class="MsoNoSpacing"> </p>