MiriamF
Intuit Alumni

Get your taxes done using TurboTax

You will need to upgrade to the Premier edition of TurboTax Online, because the Free Edition was not designed to handle investments.  After you open your tax return, go to the Federal Taxes tab and scroll down to Stocks, Mutual Funds, Bonds, Other. This is where you enter your 1099-B. Although it may seem like it's unfair to have to pay more to report this small amount of money, if you don't, the IRS will assess tax on the full amount of the inheritance. To find the basis of the securities, look up the closing price for each on the date of your mother's passing.