How do I indicate that a stock on my 1099-B was inherited? it asked if all stocks were purchased by me. I mistakenly said yes, cannot go back to change that response.

Under additional sale information on the 1099-B, the paper form indicates the lot was acquired through inheritance, but I do not see how that is indicated on the electronic form.

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1 Best answer

Expert Alumni

Apr 2, 2021 5:25:33 PM

That information does not need to be entered on your tax return. The only significance to inheriting the stock would be in determining the cost basis, which would normally be the fair market value when you acquired it.

If you want to see the option again though, you can delete the form 1099-B and re-enter the form in TurboTax.

Expert Alumni

Apr 2, 2021 5:25:33 PM

If you want to see the option again though, you can delete the form 1099-B and re-enter the form in TurboTax.

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How do I indicate that a stock on my 1099-B was inherited? it asked if all stocks were purchased by me. I mistakenly said yes, cannot go back to change that response.