Also make sure that you adjust the basis in the stocks appropriately. This can be significant for some stocks.
The basis in the stock you inherited is the FMV on the date of death unless the estate chose the alternate valuation date that's six months after the date of death. It is critical you maintain some type of record for this new basis. This would be fairly simple if an estate tax return was prepared, but this is not always the case.
Also make sure you contact shareholder services to make sure that the ownership of the stock gets updated on the company's records to now reflect you as the owner.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
