Get your taxes done using TurboTax

Report the stock sale on Sch D via form 8949. I believe you inherited the stock or it was bequeathed so not gifted. Different rules for inherited vs gifted securities. A stock gifted would use the donors adjusted basis, less gift tax paid on the transactions if any. An inherited stock uses the value of the stock on the decedents date of death value.  So you will have a long term gain of 1,156 instead of 15,556 if gifted to you. This is called step up basis which is classified as long term regardless of how long you held the security. 

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