rbynaker
Level 14
02-19-2020
08:37 AM
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https://www.irs.gov/pub/irs-pdf/p721.pdf
The rules can get complicated. I'd guess at this point it's probably all taxable, I see very few of these nowadays with UNKNOWN. Most of the older ones I had (now deceased) would have used the antiquated "basis comes out first" rules and would be fully taxable now. All the ones I see now have taxable amount computed.