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June 1, 2019
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Can I deduct the short term loss and/or long term loss from a fund I inherited?

  • June 1, 2019
  • 3 replies
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I inherited funds in 2018 and sold them on January 2, 2019.

Best answer by fanfare

your cost basis is the value on the day you inherited them, plus any reinvested dividends or reinvested distributions.

inherited stock or mutual funds is always Long Term.

3 replies

ecbennickAuthor
June 1, 2019
Can I deduct the loss on my 2018 tax return?
fanfare
Employee
June 1, 2019
no you will get your 1099-B next year.
fanfare
fanfareAnswer
Employee
June 1, 2019

your cost basis is the value on the day you inherited them, plus any reinvested dividends or reinvested distributions.

inherited stock or mutual funds is always Long Term.