3188998
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.

Inherited Stock acquired date

I received my 1099-B and imported it to Turbotax.  All sales in it were inherited stock sales and the financial institution reported date of death as acquired date.  Once imported appropriately reported the sales as long term due to inheritance even though I sold the shares a few months later. 

 

Question (1):  Should I edit date acquired to Inherited or simply leave it alone? 

It appears I can do so in the Capital Assets Sales worksheet.  I tried to due this with bulk edit but it wouldn't accept the text.  

 

Question (2):  If I should update date acquired for the 19 sales to Inherited, what's the best way to do this?

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.

1 Reply
MarilynG1
Expert Alumni

Inherited Stock acquired date

I wouldn't recommend changing the Date Acquired reported on your 1099-B, since the Date of Death is the correct date.   

 

Since they are inherited stocks, they are appropriately designated long-term.

 

Since your stock sales were reported correctly, there's no reason to change anything.

 

Here's more info on Selling Stock and Taxes.

 

 

 

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question