Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

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

cancel
Showing results for 
Search instead for 
Did you mean: 
jgswbr
New Member

How do I report stock transferred to a beneficiary. It was not sold

 
1 Best answer

Accepted Solutions
Hal_Al
Level 15

How do I report stock transferred to a beneficiary. It was not sold

You don't report it at all. Tax wise, nothing happened.

The cost basis in the shares remains the same . Using an example; if the trust originally bought the shares for $10/share and the stock was worth $50/share when transferred to the beneficiary, the beneficiary's  cost basis is $10/sh when he eventually sells it

View solution in original post

3 Replies
Hal_Al
Level 15

How do I report stock transferred to a beneficiary. It was not sold

You'll need to explain more. Particularly, did you get a 1099-B (or 1099-Q or some other tax form) for the "transfer". Beneficiary of what kind of account (UTMA, 529)?
jgswbr
New Member

How do I report stock transferred to a beneficiary. It was not sold

Thanks for the quick response... This is just a simple trust for my kid... We transferred some stock shares out of the trust to him as part of a required distribution.  We did NOT sell the shares.  Did not receive any 1099... Thanks again
Hal_Al
Level 15

How do I report stock transferred to a beneficiary. It was not sold

You don't report it at all. Tax wise, nothing happened.

The cost basis in the shares remains the same . Using an example; if the trust originally bought the shares for $10/share and the stock was worth $50/share when transferred to the beneficiary, the beneficiary's  cost basis is $10/sh when he eventually sells it

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.48m
Members

2.6m
Discussions

Manage cookies
v