turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Cost basis for inherited municipal bonds

A few municipal bonds I inherited either matured or were called in 2020. The cost basis reported on my monthly brokerage statements (which shows the purchase date as the date of my father's death) reflect a different basis each month. On the 1099-B, the brokerage lists the cost basis at redemption value, but I read that I should adjust the cost basis to the basis at time of death. Should I use the cost basis as shown when first transferred to my account or the cost basis reflected on the 1099-B? Thank you. 

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Cost basis for inherited municipal bonds

The broker's statement is correct ... ask the broker to explain why. 

Cost basis for inherited municipal bonds

Thank you.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies