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Yes, these would be selling expenses directly related to the sale of that stock.
When you take the cost of the stock (Fair Market Value at the date of death) add the legal fees to the cost basis to determine the adjusted basis of the stock in computing the capital gains.
Note: Inherited property is always Long term gain, regardless of how long how you held it.
To enter your Investments sold
Click on Federal Taxes
Click on Wages and Income
Click on I'll choose what I work on
Scroll down to Investments
On Stocks, Bonds, Other, click the start or update button
Hello, MichaelL,
I am dealing with a similar situation and would like to know if you can provide the reference to the IRC that addresses this issue since we are trying to amend a tax return.
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