Yes, you have to report it and it may or may not be taxable.
If you inherited the shares: The cost basis of inherited stock is generally "stepped-up" to the market price of the stock on the date that the benefactor died. See the information below.
In some rare cases the executor of the estate may have made a special election to treat the stock differently. Check with your executor if you're not sure.
Please see the instructions below to enter your Form 1099-B Proceeds From Broker and Barter Exchange Transactions.
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How Do I Find the Cost Basis for My Investments?
