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Are proceeds from inherited stock exchange to cash taxable? We inherited company A stock. Company B purchased company A and exchanged A stock for cash. Is cash taxable?
Our brokerage sent a 1099-B with this as a line item making it seem like a stock sale. Since it was inherited stock to begin with we're not sure of tax liability. We did not choose to have the exchange , it was part of the company takeover. Where do we enter on 1040?
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‎June 4, 2019
2:06 PM