Get your taxes done using TurboTax

As you enter your 1099-B form manually, on the Now, we'll enter one sale on your XXX 1099-B screen, enter the requested information and in the How did you receive this investment? box, select I inherited it.

The cost basis of inherited stock is generally the market price of the stock on the date that the benefactor died.

• In rare cases, the executor of the estate will make a special election to treat the stock differently. Check with the executor to be sure.