Why the "I inherited my donation" question for stock donations?

[techvet]

My mother died in 2021.  I inherited some securities from her estate.  In 2023, my wife and I donated 45 shares of stock I had received to a charity. 

In declaring this gift, there is a "I inherited my donation" option, but if I select that option, I then have to go into Item donation and I am still asked for the purchase price, which makes NO sense because I am already telling TurboTax that I inherited the stock on the same screen.  Yes, I understand the cost basis is adjusted to the value on the day my mother died, but:

1.  Why does it matter whether I bought the stock or inherited it?  

2.  Why is it asking me for *purchase* price when I didn't buy it?  If it's wants cost basis, then say so.

Thanks,

TK

[DianeW777]

Here are the answers to your questions:

1. The difference between buying and inheriting is that inherited property is automatically long term holding period. This makes a difference on your deduction amount.
2. I tested and entered zero for the purchase price and continued through the screens. As we know, you did not purchase the stock. 

When I look at the Charitable Worksheet it shows the value I entered on the date of death.

• Determining the Value of Donated Property

[fanfare]

"Why does it matter whether I bought the stock or inherited it?  "

See U.S. Tax Code.