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I sold Bonds that I inherited from my father when he died. Do I have to pay taxes on these bonds when I sold them?

Do I pay taxes on treasury bonds when I sold them, of which I had inherited.
2 Replies
ColeenD3
Expert Alumni

I sold Bonds that I inherited from my father when he died. Do I have to pay taxes on these bonds when I sold them?

Yes, if you had a gain on the sale, you would pay tax on the gain. You must report all your income.

 

Enter you information in the Investment section.

 

When you sell stocks, bonds, mutual funds, or other securities, you should get Form 1099-B from your brokerage by mid-February. Simply enter the form into TurboTax to report the sale.

 

  1. Open (continue) your return in TurboTax.
  2. In the search box, search for investment sales then select the Jump to link in the search results.
  3. Answer Yes to the question Did you sell stocks, mutual funds, bonds,  or other investments in 2020?.
  4. Continue following the onscreen instructions to enter the sale.

 

I sold Bonds that I inherited from my father when he died. Do I have to pay taxes on these bonds when I sold them?

what type of bonds? US savings bonds can be inherited and there are different reporting for them than for say Corp XYZ bond

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