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jfsnyder
New Member

Sold inherited bank of mellon stock . 105.7 shares .94.7 shares listed as noncovered security, what do I put for cost or other basis. other 2 sales have cost listed.

what do I put for cost or other basis. other 2 small sales have it listed on 1099-B. also for description of property do ijust list shares or name of stock,
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Accepted Solutions
DS30
New Member

Sold inherited bank of mellon stock . 105.7 shares .94.7 shares listed as noncovered security, what do I put for cost or other basis. other 2 sales have cost listed.

You will use the FMV of the stock on the date of inheritance as the cost basis. Also use the date of inheritance as the date of acquisition.

You may want to ask the selling broker to search records for clues to help determine basis.

If this option doesn't t work, you may have to make an educated guess about when the stock price when it was acquired. You can do that by going to the company’s website or Yahoo Finance to find historical high and low prices for that period. (They should be adjusted for any splits.)

 


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4 Replies
jfsnyder
New Member

Sold inherited bank of mellon stock . 105.7 shares .94.7 shares listed as noncovered security, what do I put for cost or other basis. other 2 sales have cost listed.

for sales marked box D and A ,date acquired is listed as multiple>Is that what I fill form?
DS30
New Member

Sold inherited bank of mellon stock . 105.7 shares .94.7 shares listed as noncovered security, what do I put for cost or other basis. other 2 sales have cost listed.

See answer for date of acquisition information.
TomYoung
Level 13

Sold inherited bank of mellon stock . 105.7 shares .94.7 shares listed as noncovered security, what do I put for cost or other basis. other 2 sales have cost listed.

"for sales marked box D and A ,date acquired is listed as multiple>Is that what I fill form?"

TurboTax will accept the word "various".
DS30
New Member

Sold inherited bank of mellon stock . 105.7 shares .94.7 shares listed as noncovered security, what do I put for cost or other basis. other 2 sales have cost listed.

You will use the FMV of the stock on the date of inheritance as the cost basis. Also use the date of inheritance as the date of acquisition.

You may want to ask the selling broker to search records for clues to help determine basis.

If this option doesn't t work, you may have to make an educated guess about when the stock price when it was acquired. You can do that by going to the company’s website or Yahoo Finance to find historical high and low prices for that period. (They should be adjusted for any splits.)

 


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