European Stars And Stripes (Newspaper) - July 3, 1988, Darmstadt, Hesse                                Page 20 the stars and stripes sunday july 3,1988 investor s guide by Bill Doyle q. My late husband and i put Allour stocks in joint ownership in order to keep them out of the pro Bate process. That did avoid the probate problem. After he died twas no big problem having the stocks put in my name alone through the Transfer agents. Since then the dividend Check shave been coming to , no problem. I now wis to sell some of this Stock and am told will have to pay More tax than i would Doyle have been required to if the Stock Shad been owned by my husband alone. That s a problem. I m told it has something to do with Only half the basis of jointly owned Stock stepping up when one of the own ers Dies. Can you explain this with exam Ples using your mythical Xyz Stock a. First let s make the Point that the basis Cost for tax purposes of inherited Stock Isth value put on the Stock when the estate is settled. That s almost always the Market value on the Date of death the exception being when an alternative valuation Date is used. When someone buys Stock Hasit registered in his or her name alone and then leaves this Vale of tears the basis Steps up from the Price at which the Stock was Pur chased to the Market value on the Date of death. But if the Stock is owned jointly by two people and one Dies Only half of the basis Steps up to the Market value on the Date of thatch owner s death. Now the examples. Let s say your husband bought100 shares of Xyz at $10 a share Many years ago and had it registered in his name. His basis was $1,000. Say Xyz was Worth $50 Ashare on the Day your husband died. The basis on those 100shares you inherit Steps up to $5,000, or $50 a share. If you sell the difference Between your stepped up basis and the proceed from the Sale is either a capital gain or a capital loss which you Are required to report on your fed eral income tax return. Now let s say the 100 shares of Xyz were purchased at the same Price of $ 10 a share but were registered in joint ownership in both your names. The basis was $1.000.also say the Stock was Worth $50 a share on the Date of your Hus band s death. The basis on the half of that Stock you inherit Steps unto $2,500. The basis on the half you have owned All along remain sat $500. That makes your total basis $3,000. Assuming you sell at a profit you la have to pay More tax on the Sale of Stock with a $3,000 basis than you would on the Sale of Stock with a $5,000 basis. That s the problem with join ownership. Q. What is the official identity for a us. Citizen for financial dealings and other purposes a. There is no really official identity document. The closest thing to it is the taxpayer identification number the social Security number. King features columnist Doyle Welcome your tetters. You can write to him in care of the stars and stripes Apo 09211. . Forces business news Mart fails to extend weekly gains new York up despite continued stability in the Dollar and a drop in Oil prices the Stock Market failed to extend its string of weekly gains As profit taking emerged in the final session be fore the fourth of july break. The Dow Jones Industrial average which fell 10.13 Friday closed the week at 2131.58, Down 11.38, its first weekly loss in six weeks. The Dow however closed the first half of 1988 on thursday with a gain of 202.88 Points or 10.5 percent. The fear of higher interest rates in the United states and abroad sent Stock prices sharply lower monday in heavy trading As the Dow fell 34.50 Points. New York Exchange new York up the 15 most Active stocks in new York Stock Exchange composite trading Friday. Stock Bel South Carolina pm Illinois per storage tech okla mag a Natl sem icon ban America Lincoln Natl Tenner inc Exxon corp Gulf St util at to co Montana purus corp Arm Tek corp sex dividend sales 41,874,000 27,995,400 16,300,300 12,447,500 6,436,000 2,430,200 2.128,000 x-2,033.000 1,375,200 1,280,800 1,221,400 1,197,300 x-1,190,100 1,131,500 1,074,000 last42% 34 Vuk 2v4 32%12% 14 % 4614 48%44% 6%26% 34 v47% 32  % unch off up Viz unch off up off to up off off Toff off off on thursday those worries prove justified. The West German Bundesbank raised its discount rate to 3 percent from2.5 percent. And while the rate hike was anticipated and discounted by the Market traders suggested the Long term implications could prove to be a serious concern. End of Quarter buying and lower crude Oil prices drove the airline sector sharply higher on thursday. As a result the Dow Jones transportation average soared 20.01 to 908.15, the highest level since the october collapse. Broad Market indicators posted modes declines on the week. The new York Stock Exchange composite Index fell 0.88 to153.68. Standard & poor s 500-Stock Index dropped 2.00 to close the week at 271.78. Declines edged advances 931-925among the 2,162 issues traded. Big Board volume totalled 1,042,194,090 shares com american Exchange new York up the 10 most Active stocks in american Stock Exchange composite trading Friday. Stock sales last Nelcha. Dome petrol 2,431,800 15-32 up 1-32 Wang lab b 494,600 10% off Texas air 464,100 14% off i Amdahl corp 368,400 53 off 1 Lori Martel 247,200 13% unch technical tape 201,400 8% a pm Conquest exper 180,200 2vfe of Fife a Labsa. 148,700 12% up i Ich corp 145,500 7% up a carnival cars 136,200 13 of Fife pared with 885,096,180 the previous  California Edison was the most Active Issue falling 1% to 32  followed  to 42%, and South Western Bell was third off it to 38  slipped it to 26 v 2. Ism Rose 1 to 126%. Fort Howard paper gained 4 to 54. York International jumped 5% to 561a.among other Active issues Varity was  to 3%, Exxon was Down l a to445/8, and National semiconductor was Down 2 to 12%. On the american Stock Exchange thealex Market value Index Rose 0.51 to close at 309.00, while the National association of securities dealers Index Rose 3.08 to 394.70. Advances led declines 469-351 among1,032 issues traded on the amex. Volume t9taled 49,444,975, shares compared with 59,149,285 traded the previous week. Dome Petroleum led the amex actives up 1-32 to 1 5-32. Wang labs class b followed up /4 to 10%. Texas air was third gaining 1 a to 14%. Toshiba suffers net loss Tokyo up Toshiba machineco., condemned for illegally exporting sophisticated propeller milling machines to the soviet Union last year reported Friday it suffered a substantial loss in the year ended March 31. The subsidiary of major japanese electronics firm Toshiba corp. Said its consolidated net loss amounted to $ 1.18 million. . Firm reportedly to buy atm London a television South pc a British production company has agreed to buy atm entertainment inc.,an Independent . Company co founded by actress Mary Tyler Moore in Adeal Worth about $325 million a news paper reported. The British company known As tvs said it could neither confirm nor deny Friday s report in the financial times but said James Gatward its chief executive would make a statement at a new conference on july 6. Atm a private los Angeles company which takes its name from Moore initials had planned a $100 million Ini tial Public Stock offering last year but withdrew those plans after the october Stock Market crash. At that time the company was valued at around $450 million and had after tax profits of $26.1 million in the 1987 Finan Cial year Down from $30.6 million the pre Vious year according to the times. Since atm was founded in 1970, it has produced some 30 television series and More than a dozen made for to w. German Cardinal Dies Mainz West Germany a West German Cardinal Hermann Volk died Friday morning at age 84 following lengthy illness. Movies. Some of its hit to series have been Hill Street blues and St. Else where which have a Large audience i Europe. In addition atm develops and produces theatrical movies and operates record and music publishing company atm music group of Nashville Tenn. Tvs although relatively Small screen sits productions in Southern England the most prosperous area of Britain. The financial times said the Deal would give tvs production capacity in the United states potential Access to the . Networks and a Library of pro Grams to sell across Europe to television stations and Cable and  fund prices from Page 19 invest 8.55 9.34 .02ornnifd 2.63 2.87 .01 Ultra 6.58 7.19 .03selected finds Amshy 13.05 no. 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