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re: Bankrupt stock- tax implications
Posted on 1/26/15 at 8:36 am to Poodlebrain
Posted on 1/26/15 at 8:36 am to Poodlebrain
quote:
I hope you tell them to not sell the stock to a related party.
Yes, usually it is their financial adviser that buys it (assuming the adviser is not related to them).
I did have a new client show up once that had already sold stock like this to his son, and the son sold a like amount of the same stock to his father. They were in for a surprise!
Posted on 1/26/15 at 2:00 pm to LSUFanHouston
I wasn't aware of the implications of selling this type of stock to a related party. What occurred to the father and son who had sold to each other?
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