Sale of inherited stock

[fanfare]

inherited stock is always Long Term so be sure your Box category is D, E, or F as appropriate

@KimEWaters 

[KimEWaters]

@fanfare  is this what you mean? (I just added a Redacted image.). 

IRS BOX
2022 FORM 1099-B - PROCEEDS FROM BROKER AND BARTER EXCHANGE TRANSACTIONS

It’s 1d. Proceeds and 1e. Cost or other bases of covered securities.  

[KimEWaters]

@fanfare 

[fanfare]

yes that selection should be sufficient.

@KimEWaters 

[KimEWaters]

@fanfare working on this makes me wonder how many people end up paying all of that tax because they didn’t know how this works when they inherit stocks. I was worried I would have to hire someone and probably spend hundreds of dollars to save hundreds of dollars.