topic I inherited shares of stock from my grandmother that I sold in 2020. My grandmother died in June 2016. How do I determine cost basis amount? in Get your taxes done using TurboTax

I inherited shares of stock from my grandmother that I sold in 2020. My grandmother died in June 2016. How do I determine cost basis amount?

Jen9 — Sun, 04 Apr 2021 23:16:27 GMT

Re: I inherited shares of stock from my grandmother that I sold in 2020. My grandmother died in June 2016. How do I determine cost basis amount?

M-MTax — Mon, 05 Apr 2021 01:13:01 GMT

The shares are valued on the date your grandmother passed in 2016.....take the high and low for the day she passed add them together and divide by 2 and that's your basis.

Re: I inherited shares of stock from my grandmother that I sold in 2020. My grandmother died in June 2016. How do I determine cost basis amount?

Jen9 — Mon, 05 Apr 2021 01:25:12 GMT

Thank you1

Re: I inherited shares of stock from my grandmother that I sold in 2020. My grandmother died in June 2016. How do I determine cost basis amount?

NCperson — Mon, 05 Apr 2021 02:25:28 GMT

and in case anyone else reads this thread..... and even if Grandma purchased the stock the day BEFORE she died and you sold the stock the day AFTER she died, it's a long term gain, not short-term. It is always a long term gain is the point.