Inherited stock advice
Hello all, I received a stock certificate for a company when my grandfather passed away, about 4 years ago, since then I have received a yearly dividend payment, and I've paid taxes on that dividend. Now, this year the company is offering a voluntarily buyback of up to 20% of our shares. The bottom line to make this short is my 20% is a rather large amount. It's roughly 200,000.000
Now I figure I can go two ways about this, the first way, is, I'm divorced, rent a house and have no deductions to write off, so I'm going to get eaten alive on my capital gains. I'm pretty sure it's considered long term capital gains, so I think thats 15% in taxes. I also believe that I should subtract the dollar amount the stock was valued at when I received it, and the difference of the selling price, then 15% would come off that amount for taxes. Does that sound about right?
Or the second way is I could get ahold of some cpa or financial guru to get advice on tax planning. Don't know that I need a lot of info in this case, but just want to make sure I have the tax right and also, what would one recommend to shelter some of that blow? Like a Roth maybe or something?
Thanks for the assistance,