My wife inherited stocks in 2015 that had no basis according to broker statements, apparently company was sold/merged. The stock remained in portfolio with zero value until liquidated in 2019 for a total of $0.39, no basis reported on 1099-B. TT won't let me e-file without basis and indicates I should mail my return. Seems stupid to have to hard file for 39 cents. Cant even mail it to IRS for that. Can I enter 0 for basis? Dosent seem that would be wrong as the statement showed it had no value when wife inherited from her father.
Yes. Your basis is zero. If you can't determine the basis, it automatically defaults to zero. However, if you sold it, you had a gain of 100% of the sales price. This does need to be included on your return.
Yes, enter 0 basis, since all evidence indicates that is correct.