Investors & landlords

You are correct.  All of the inherited stock is classified as long term, and the cost basis is the fair market value (Value on the day of the passing).

You should enter everything exactly as it appears on the 1099-B.  This is the IRS’s reference point.  Once you’ve entered the transaction there is an opportunity to make adjustments.

1. Once you’ve entered the transaction.
2. Scroll down the page to I’ll enter additional info on my own
3. Look down to Box 2
   1. Corrected Cost Basis
   2. Corrected holding period
   3. Also check This item was inherited

This will properly post these stock transactions.