First, I would like to express my condolences on the passing of your brother.
You should have received a Form 1099-B for each of the accounts that you cashed out.
Each Form 1099-B will show the total proceeds from the sale and the date sold. You will need to include your cost basis which is the value on the day your brother died, which you have already calculated. In addition, if the form does not include a "sale category", you should designate this sale as "long term uncovered" since inherited shares are considered long term holdings.
The information from your 1099-B input will be used to complete Forms 8949 and Schedule D.
To input your Form 1099-B in TurboTax, please follow these steps:
- Login to your TurboTax Account
- Click "Take Me To My Return"
- Click "Federal" from the left side of your screen
- Scroll down to "Investment Income" & Click "Show More"
- Click "Start" next to "Stocks, Mutual Funds, Bonds, Other"
- From here, TurboTax will walk you through entering your stock and mutual fund sale information
Please comment below if you need further assistance reporting your stock and mutual fund sales.
