Should I say that a stock was inherited, if it was purchased at "various" times & I can't tell if any purchases happened before I inherited it?

[lec15794]

TurboTax wants to know if the stock was inherited. Box 1b on my 1099-B has "various" for the date acquired, so I can't tell if the stock was purchased before or after I inherited this investment account.

[JamesG1]

Your IRS form 1099-B reports a sale of a stock.  You inherited a portion of this stock portfolio and you purchased other portions of this stock portfolio.

The inherited portion of the stock portfolio will be considered long-term basis.  The portion that you purchased may be long-term investments or short-term investments based upon the date of purchase and date of sale.  Short-term investments are owned one year or less.  Long-term investments are held more than one year.

You may need to contact your broker to discern the when you acquired the block of stock that was sold.

[fanfare]

The date you inherited a security is the earliest date to be entered on a SELL of that security.

The FMV on that date is your basis.