TeresaM
Expert Alumni

Deductions & credits

You will enter the sales in the Investment section but will be able to designate that they were inherited. In general, you do not need to pay tax on the value of the inheritance, only on increased value after you received them. 
 

  1. Go to the Wages and Income section
  2. Investments and Savings and Show More
  3. Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)  click Start or Revisit
  4. Click the Add Investments button
  5. Enter a Different Way
  6. Select Other other Continue

 

  1.  Select Second Home from the investment type drop down
  2.  and Inherited on the next drop down

 

This will ensure that you see the questions needed to categorize this income as inherited. 

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