1099B

Forum|Forum|6 years ago
February 22, 2020
1 reply
11 views

I had to sell 165 stocks that I inherited to satisfy an inheritance to my niece. Is there an easier way to enter "I inherited it" instead of entering it 165 times to each individual stock.

Tax Advice

Best answer by DavidS127

See this TurboTax Help article for the instructions on how to enter a summary instead of individual stock transactions.

Once you get to the summary entry screen, be sure to enter your cost basis (almost always the FMV of the stock on the date of death) for each transaction.

The purpose of the "Inherited" question in TurboTax is to guide you through the correct cost basis to report for the inherited stock.

DavidS127Answer

Level 13

See this TurboTax Help article for the instructions on how to enter a summary instead of individual stock transactions.

Once you get to the summary entry screen, be sure to enter your cost basis (almost always the FMV of the stock on the date of death) for each transaction.

The purpose of the "Inherited" question in TurboTax is to guide you through the correct cost basis to report for the inherited stock.

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juarezcaAuthor

Level 2

Thank you but this doesn't answer my question I should have added it was a download. The cost basis is already there because the information was downloaded from Wells Fargo Advisors. I started to go through each sale and I reached the second page. When I put in the "I inherited it" I have to click back and it takes me back to page 1. Very time consuming. I even erased the info and started over thinking I missed something. Am I missing something in your answer or am I making this harder than what it is?

ColeenD3

Level 15

No, what you downloaded had pre-entered information. Unfortunately, you will need to manually change any information that is different what what was downloaded.