- 46 Oa Ob Oc Od Paul And His Sister Mary Hold Mutual Fund Units In A Joint Account As Tenants In Common Paul Passes A 1 (20.1 KiB) Viewed 84 times
46 Oa) Ob) Oc Od) Paul and his sister Mary hold mutual fund units in a joint account as tenants in common. Paul passes a
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46 Oa) Ob) Oc Od) Paul and his sister Mary hold mutual fund units in a joint account as tenants in common. Paul passes a
46 Oa) Ob) Oc Od) Paul and his sister Mary hold mutual fund units in a joint account as tenants in common. Paul passes away. The net asset value of the units at the time of his death is higher than the tax cost. What are the tax consequences for his share of the account? The capital gain is reported in the tax return of Paul for the year of death, The capital gain is taxed in the hands of Mary, The capital gain is taxed in the hands of Paul's estate. There is no tax on the capital gain.