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Get your taxes done using TurboTax
The stock is long term. That is the easy part. You can put any date for stock acquired as long as the date is more than a year before the sale or choose “inherited “ from the drop down menu. The hard part is determining the cost basis. You could make a good faith effort to arrive at it by researching what you think is a reasonable average price about the time it was gifted. Google historical stock prices for sites that offer that information. If the IRS challenges it, your basis will be zero.
April 21, 2020
10:46 AM