- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Selling an inherited mutual fund - short term or long term?
I inherited a Vanguard mutual fund in Nov 2013. In 2019 I had to sell the fund as it was being closed and liquidated. The 1099-B I received breaks the sale down into three portions, a short term sale (Checkbox A on the 8949), a long term (check box D) and a another long term (check box E). All three show a losses.
My question: In the 1099-B section of TurboTax Premier for investment sales, if you click on "I'll add additional info on my own" a window comes up that has a box "This item was inherited" with an explanation "Sales of inherited items are always treated as long-term sales." So should I click this box or not since the 1099-B I received does show some short-term activity? Perhaps it makes no difference since the 1099 shows losses for both short term and long term?
Thanks