How to I arrive a the cost basis of a stock that I inherited from my mother's estate?
You'll need to sign in or create an account to connect with an expert.
The basis is the fair market value on the date of your mother's death.
You would average the high and the low of the stock price for the day of death (i.e., add the high and the low together and divide by two). If your mother died on a weekend, you would go through the same procedure for Friday and Monday.
Th666: Thank you for taking the time to explain this issue to me. After receiving you response, it makes perfect sense to me and I am able to proceed with my return.
williamwally1
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
scrimminger1
Level 1
aglambert
Level 2
Joshraj75
Level 1
Golf_girl
Level 2
nikadog
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.