Question

1099-B form Money received was inheritance. How do I report it and is it taxable?

Forum|Forum|7 years ago
June 6, 2019
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TurboTax Deluxe Online

Employee

Yes, you have to report it and it may or may not be taxable.

If you inherited the shares: The cost basis of inherited stock is generally "stepped-up" to the market price of the stock on the date that the benefactor died. See the information below.

In some rare cases the executor of the estate may have made a special election to treat the stock differently. Check with your executor if you're not sure.

Please see the instructions below to enter your Form 1099-B Proceeds From Broker and Barter Exchange Transactions.

https://ttlc.intuit.com/replies/4789365

How Do I Find the Cost Basis for My Investments?

https://ttlc.intuit.com/replies/3300454

S

spoede1026

HelenaC:

The links you provided no longer work and I have not been able to find those topics by doing a search. If you're still checking this forum, is there any way to update your links?