My uncle has very low Social Security income, however he had $100 000 in stocks. All of the stocks were sold in 2006, does he owe anything to the IRS? Does he have to file his taxes? I sort of remember, that he only has to pay taxes fafter the gains. So, this means I have to find out what price he bought the stock and what price he sold it? and the difference is the gain that will be taxed? Please, anybody who knows the answer, help!
2007-04-02
07:40:13
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6 answers
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asked by
melinda1351
1