If i have an inherited 1099 B that i am trying to enter, the 1099 says it is a "non covered security" i am being asked if this is a short term ..what should i enter?

[hngjohnson53]

the form has a drop down that asks if it is a short term or long term... i don't see either of these on my 1099B only the non covered security what do i choose

[jtax]

I assume you that you inherited the security (stock/fund/bond) and not the 1099-B. You can't inherit a 1099, but you can inherit an asset.

Sale of an inherited asset is a long-term capital gain (or loss). See I.R.C. 1223(9)(B). https://www.law.cornell.edu/uscode/text/26/1223

Your gain or loss is your SALE PROCEEDS (after expenses, commissions, etc any) minus your BASIS.

Your basis is the securities fair-market value at the date of death of the person you inherited from. 

I.R.C. 1014(a)(1). https://www.law.cornell.edu/uscode/text/26/1014

There are some exceptions that only apply in the case of very large estates (millions of dollars). Let us know if that is the case.

The fair-market value for a publicly-traded stock is the average of the high and low prices on the date of death. 26 C.F.R. 20.2031-2(b)(1). https://www.law.cornell.edu/cfr/text/26/20.2031-2

You can find historical prices on the web, for example, https://www.marketwatch.com/tools/quotes/historical.asp