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<p>[QUOTE=&quot;medoraman, post: 1658400, member: 26302&quot;]1. One could assume he sold for collector value, not a wasting of asset. This is well litigated.</p><p>2. Without receipt, no proof of basis. Estimating worth has been thrown out repeatedly. It MAY work, but not guaranteed. I would file it that way, just pointing out the risk.</p><p>3. Under the unified gift and estate rules, i was assuming basis of gift would gross up his basis with no taxable affect to donor. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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