Hello,
First sorry for your loss!!!
I am glad you are asking about inheritance. The cash from the sale of the home would not be taxable. The CD wouldnow be in your name and you would get 1099 INT statements that would be taxable now in your name from the date it was move into your account.
As far as the stocks, the cost of those stocks will now be what they were worth on the date of her passing. If you sell the stocks at a gain, then you will pay taxes only on that gain.
When you enter the sale in Turbo Tax, answer the question, that you did not purchase the stock.
Katie S.
Katherine S 63
