where to report sale of INHERITED silver coins

user17724044695 — Sun, 01 Mar 2026 22:36:47 GMT

understand only pay taxes on the gains after FMV at time of death, but how / where to report profit on sale of inherited silver coins ?

Re: where to report sale of INHERITED silver coins

KikiC — Sun, 01 Mar 2026 22:49:21 GMT

Enter this as "Investment Income" under "Stocks/Cryptocurrency/Mutual Funds, Bonds, Other". This would be an "other".

JamesG1 — Sun, 01 Mar 2026 22:54:11 GMT

In TurboTax Desktop, you would enter the IRS form 1099-B by following these steps:

Across the top of the screen, click Federal Taxes.
Across the top of the screen, click Wages & Income.
Scroll down to Investments and Savings and click the down arrow to the right.
Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
Click Add investments.
At the screen Let Us Enter Your Bank and Brokerage Tax Documents, select Skip Import.
At the screen OK, let’s start with one investment type, select Other. Continue.
At the screen Tell us more about this sale, enter the information. Click Continue.
At the screen Now enter one sales total on this 1099-B, enter information. Click Continue.
Repeat as necessary by clicking Add another sale. Click Continue.

If you inherited an investment, the cost basis is likely the value of the investment on the date of the decedent's death.

Per IRS Publication 551 page 15, the basis of property inherited from a decedent is generally one of the following.

The fair market value (FMV) of the property at the date of the individual's death.
The fair market value (FMV) on the alternate valuation date if the personal representative for the estate chooses to use alternate valuation.
The value under the special-use valuation method for real property used in farming or a closely held business if chosen for estate tax purposes.
The decedent's adjusted basis in land to the extent of the value excluded from the decedent's taxable estate as a qualified conservation easement.