Investors & landlords

You need Premier or above to report your sales.  You'll use the "Stocks, Mutual Funds, Bonds, Other" interview.

You need the 1099-Bs reporting the sales.

You need to know the cost basis of each security at the date of death.  That will be your basis which is subtracted from the proceeds to come up with the gain or loss.  It appears you'll have a net loss in both accounts.

When you sell the stock put the word "inherited" in the date acquired field.  That will make your gains/losses "long term" which they are as a matter of tax law.

Tom Young

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