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The Coca-Cola Company Message Board

  • moochcat moochcat Dec 22, 1997 8:25 AM Flag

    follow up question on "declaring new bas

    Thanks a lot for all you help so far.
    After reading the previous posts I have a
    few more questions:

    --What does declaring a new basis mean and how do you do it?
    --Does grandpa have to pay any tax or does all the capital gains
    that occurred over the past 20 years get forgotten?
    --Once I declare a new basis, do I only pay capital gains made
    from the point I receive the gift?

    Thanks again, the cat

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